Gores Technology Partners II, Inc. Completes $460 Million Initial Public Offering
March 16 2021 - 3:25PM
Business Wire
Gores Technology Partners II, Inc. (the “Company”), a blank
check company sponsored by an affiliate of The Gores Group, LLC, a
global investment firm founded in 1987 by Alec Gores, and 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 closing of its initial public offering of 46,000,000 units,
which includes 6,000,000 units issued pursuant to the full exercise
by the underwriter of its over-allotment option. The offering was
priced at $10.00 per unit, resulting in gross proceeds of
$460,000,000, before deducting underwriting discounts and
commissions and other offering expenses payable by the Company.
The Company’s units began trading on the Nasdaq Capital Market
under the ticker symbol “GTPBU” on March 12, 2021. Each unit
consists of one share of the Company’s Class A common stock and
one-fifth of one warrant. Each whole warrant entitles the holder
thereof to purchase one share of the Company’s Class A common stock
at a price of $11.50 per share. Once the securities comprising the
units begin separate trading, the Class A common stock and warrants
are expected to be listed on the Nasdaq Capital Market under the
ticker symbols “GTPB” and “GTPBW,” respectively.
Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and
Credit Suisse Securities (USA) LLC are serving as joint
book-running managers for the offering. 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; 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; or Credit Suisse Securities (USA)
LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive,
Morrisville, NC 27560, telephone: (800)-221-1037 or by emailing:
usa.prospectus@credit-suisse.com
A registration statement relating to the securities became
effective on March 11, 2021, in accordance with Section 8(a) of the
Securities Act of 1933, as amended. 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
anticipated use of the net proceeds. No assurance can be given 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 Securities and Exchange Commission (“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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version on businesswire.com: https://www.businesswire.com/news/home/20210316006038/en/
Jennifer Kwon Chou Managing Director, The Gores Group (310)
209-3010 jchou@gores.com
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