Gores Metropoulos II, Inc. Announces Pricing of $400 Million Initial Public Offering
Gores Metropoulos II, Inc. announced its initial public offering (IPO), pricing 40 million units at $10.00 each. The units will start trading on Nasdaq under the symbol 'GMIIU' from January 20, 2021. Each unit comprises one Class A common stock share and one-fifth of a warrant, with each whole warrant allowing the purchase of a share at $11.50. The underwriters, Deutsche Bank and Citigroup, have a 45-day option to buy an additional 6 million units. The offering's terms are subject to change, and forward-looking statements reflect potential risks.
- Initial public offering of 40 million units priced at $10.00 each.
- Units to be listed on Nasdaq under symbol 'GMIIU'.
- Potential to raise additional capital with the option for underwriters to buy 6 million extra units.
- Forward-looking statements highlight uncertainties in completing the offering.
- No assurance on the intended use of net proceeds due to numerous external conditions.
Gores Metropoulos II, Inc. (the “Company”), a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 40,000,000 units at a price of
Deutsche Bank Securities Inc. and Citibank Global Markets Inc. are serving as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 6,000,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email: prospectus.cpdg@db.com; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at (800) 831-9146.
A registration statement relating to the securities has been declared effective by the Securities and Exchange Commission (“SEC”) on January 19, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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