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Gores Holdings VIII, Inc. (Nasdaq: GIIXU, GIIX, GIIXW) announced the filing of a definitive proxy statement for a special stockholder meeting aimed at approving amendments related to the company's charter and trust agreement. These amendments would enable the Company to accelerate the redemption of all outstanding shares of Class A common stock and associated units by shifting the deadline from March 2023 to December 2022.
Approval would result in a mandatory redemption, with completion expected around December 30, 2022. The virtual meeting is scheduled for December 29, 2022.
Gores Holdings VIII, Inc. (NASDAQ: GIIX, GIIXW, GIIXU) announced a plan to liquidate its public shares ahead of the March 1, 2023 termination date of its current Charter. This decision follows the termination of its merger agreement with Footprint International Holdco, Inc. due to unfavorable market conditions. The Company aims to redeem shares by December 31, 2022, avoiding a potential 1% excise tax, and believes early liquidation is in stockholders' best interest. A special meeting for stockholder approval will occur in December 2022.
Gores Holdings VIII, Inc. (Nasdaq: GIIXU, GIIX, GIIXW) and Footprint have mutually agreed to terminate their Merger Agreement due to unfavorable public market conditions. Despite the setback, Footprint remains committed to its mission of reducing single-use plastics and continues to experience strong revenue growth and capacity expansion. Both companies expressed optimism about future opportunities, emphasizing sustained partnerships and innovative solutions in the materials science sector.
Footprint has been recognized in Fast Company's Brands That Matter in 2022 list, showcasing its commitment to sustainability, social action, and community engagement. Among 144 honorees, Footprint stands out for its eco-friendly initiatives, including partnerships such as the Footprint Center that promotes plant-based alternatives to single-use plastics. The company's growth aims to redirect plastic waste through innovative product development. Founded by former Intel engineers in 2014, Footprint employs over 2,700 individuals globally and is in a business combination with Gores Holdings VIII (NASDAQ: GIIX).
Footprint has partnered with f'real foods to develop a sustainable, fiber-based replacement for f'real's dairy cup. This collaboration aims to eliminate single-use plastics, with f'real targeting 100% recyclable packaging by 2025. Footprint's innovative Print-to-Fiber Technology™ will enhance branding on these cups. Extensive testing will start this month to ensure performance standards are met. Additionally, Footprint plans to list on NASDAQ through a merger with Gores Holdings VIII (Nasdaq: GIIX, GIIXW, GIIXU).
Footprint has entered a multi-year agreement with SAMBAZON to develop sustainable packaging solutions for its açaí products. This partnership will utilize Footprint's proprietary plant-based fiber technology for SAMBAZON's ready-to-eat açaí bowls, which have a fifteen-month shelf life. The collaboration aims to support SAMBAZON's commitment to eco-friendly packaging and aims to eliminate single-use plastics by 2025. Footprint is also preparing for its NASDAQ listing through a merger with Gores Holdings VIII (NASDAQ: GIIX, GIIXU, GIIXW), intending to scale its sustainable practices in the food industry.
Footprint, a global materials science technology company, announced the development of a custom, plant-based fiber tray for packaging the GilletteLabs Razor with Exfoliating Bar. This tray is the first application of Footprint's new color-based molded fiber technology and is designed to support Gillette's goal of achieving 100% recyclable packaging by 2030. Millions of these units have already been produced since the product launched globally in November 2021. This partnership emphasizes the commitment of both companies to reducing single-use plastics and creating sustainable packaging solutions.
Footprint, a materials science tech company, and Gores Holdings VIII (GIIX) have amended their merger agreement, now anticipating a pro forma enterprise value of
Footprint, a materials science technology company focused on sustainable solutions, announced a remarkable start to 2022 with a 133% increase in revenue compared to the previous year. The company is projected to achieve
