Gores Holdings VII Inc. (GSEV) Prices 48M Unit IPO at $10/Unit
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Gores Holdings VII Inc. (NASDAQ: GSEV), a blank check company 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 48,000,000 units at a price of $10.00 per unit on February 22, 2021. The units were listed on the Nasdaq Capital Market and trade under the ticker symbol “GSEVU” beginning February 23, 2021. Each unit consists of one share of the Company’s Class A common stock and one-eighth 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 “GSEV” and “GSEVW,” respectively.
Deutsche Bank Securities 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 7,200,000 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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