Welcome to our dedicated page for Gores Technology news (Ticker: GTPAW), a resource for investors and traders seeking the latest updates and insights on Gores Technology stock.
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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. 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.
