Gores Holdings VII, Inc. Announces the Separate Trading of Its Class A Common Stock and Warrants Commencing April 15, 2021

Rhea-AI Summary

Gores Holdings VII, Inc. (Nasdaq: GSEVU) announced that, starting April 15, 2021, investors in its initial public offering of 55 million units completed on February 25, 2021, can separately trade Class A common stock and warrants. Unseparated units will continue to trade under the symbol GSEVU, while separated shares will trade as GSEV and GSEVW on the Nasdaq Capital Market. The press release serves as a notification and does not constitute a securities offer or solicitation. The company's strategy focuses on mergers and acquisitions in sectors that align with its management's expertise.

Positive

• Starting April 15, 2021, investors can separately trade Class A common stock and warrants, enhancing liquidity options.
• The company completed a successful initial public offering of 55 million units, providing capital for future acquisitions.

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• None.

Gores Holdings VII, Inc. (Nasdaq: GSEVU) (the “Company”), a blank check company sponsored by an affiliate of The Gores Group, LLC, today announced that, commencing April 15, 2021, holders of the units sold in the Company’s initial public offering of 55,000,000 units completed on February 25, 2021 may elect to separately trade the shares of Class A common stock and warrants included in the units. Those units not separated will continue to trade on the Nasdaq Capital Market under the symbol “GSEVU,” and the Class A common stock and warrants that are separated will trade on the Nasdaq Capital Market under the symbols “GSEV” and “GSEVW,” respectively.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, 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. The offering was made only by means of a prospectus, copies of which 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 Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick, 2nd Floor, New York, New York 10014, telephone: 866-718-1649 or email: prospectus@morganstanley.com.

About Gores Holdings VII, Inc.

Gores Holdings VII, Inc. was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company's strategy is to identify, acquire and, after the initial business combination, to build a company in an industry or sector that complements the experience of its management team and can benefit from their operational expertise.

Forward-Looking Statements

This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. 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 initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210413006123/en/

FAQ

What is the trading status of Gores Holdings VII, Inc. (GSEVU) as of April 2021?

As of April 15, 2021, investors can trade the Class A common stock under the symbol GSEV and warrants under GSEVW, separate from the initial units traded as GSEVU.

What was the purpose of the initial public offering by Gores Holdings VII, Inc.?

The initial public offering intended to raise capital to facilitate mergers and acquisitions within sectors aligning with the management's expertise.

When was the initial public offering for Gores Holdings VII, Inc. completed?

The initial public offering was completed on February 25, 2021, with 55 million units sold.