Gores Guggenheim, a blank check company formed by The Gores Group and Guggenheim Partners, raised $750 million by offering 75 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50.
The company is led by Chairman Alec Gores, the founder and CEO of The Gores Group; CEO Mark Stone, who currently serves as a Senior Managing Director of The Gores Group; and President and Director Andrew Rosenfield, who currently serves as the President of Guggenheim Partners. The SPAC plans to leverage its management's experience to target a wide array of industries including industrials, technology, telecommunications, media and entertainment, business services, healthcare, financial services, and consumer products.
Gores Guggenheim plans to list on the Nasdaq under the symbol GGPIU. Deutsche Bank, Citi and Morgan Stanley acted as lead managers on the deal.
The article SPAC Gores Guggenheim prices $750 million IPO, formed by The Gores Group and Guggenheim Partners originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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