Gores Guggenheim Inc. (GGPI) Prices 75M Unit IPO at $10/Unit

March 23, 2021 6:13 AM EDT

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Gores Guggenheim, Inc. (NASDAQ: GGPI), a blank check company sponsored by affiliates of The Gores Group and Guggenheim Capital, LLC, 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 75,000,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Capital Market and trade under the ticker symbol “GGPIU” beginning March 23, 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 symbols “GGPI” and “GGPIW,” respectively.

Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC 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 11,250,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus.



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