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Gores Technology Partners, Inc. (NASDAQ: GTPA, GTPAU, GTPAW) has filed a preliminary proxy statement seeking stockholder approval to amend its Charter, enabling the redemption of all outstanding public shares and early liquidation before December 31, 2022. The Company assesses that completing a merger is unlikely due to current market conditions, including high redemption rates and limited suitable targets. The decision to liquidate aims to return capital to shareholders before a potential 1% excise tax in 2023. A special stockholder meeting will occur in December 2022.
Gores Technology Partners, Inc. (Nasdaq: GTPAU) announced that starting May 3, 2021, investors can separate and trade shares of Class A common stock and warrants from the units sold in its recent IPO of 27.5 million units, completed on March 16, 2021. Unseparated units will continue trading under GTPAU, while separated Class A stock and warrants will trade under GTPA and GTPAW, respectively. This move aims to enhance market flexibility for investors, with no solicitation for the sale of the Company’s securities.
Gores Technology Partners, Inc. has successfully closed its initial public offering (IPO) of 27,500,000 units, raising gross proceeds of $275 million. The offering, priced at $10.00 per unit, includes 3,500,000 units from an underwriter over-allotment option. Each unit consists of one share of Class A common stock and one-fifth of a warrant. The units are traded on the Nasdaq under the symbol 'GTPAU', with Class A common stock and warrants expected to list under 'GTPA' and 'GTPAW' respectively after separate trading begins.
Gores Technology Partners, Inc. announced the pricing of its initial public offering (IPO) of 24,000,000 units at $10.00 per unit, set to trade under the ticker symbol GTPAU on the Nasdaq starting March 12, 2021. Each unit includes one share of Class A common stock and one-fifth of a warrant, with whole warrants allowing stock purchase at $11.50. Underwriters have a 45-day option to buy an additional 3,600,000 units. The securities registration was effective as of March 11, 2021, but future offerings are not guaranteed as stated in forward-looking statements.
