Gores Holdings X, Inc. is a special purpose acquisition company (SPAC) incorporated as an exempted Cayman Islands company, formed to effect a merger, share exchange, asset acquisition, share purchase, recapitalization or similar business combination with one or more businesses. The company completed its initial public offering in 2021, raising capital through the sale of units that each consist of one Class A ordinary share and one-half redeemable warrant. Gores Holdings X’s units trade under the ticker GTENU on the Nasdaq Global Market.
The company does not engage in any commercial operations of its own. Instead, its management team seeks to identify and pursue a business combination with a target company that offers growth potential. While Gores Holdings X has not announced a definitive acquisition as of yet, it has indicated a focus on sectors where the sponsor’s expertise can add significant value, such as technology-enabled services, industrials and consumer products. The SPAC structure allows the team to evaluate opportunities across North America and select global markets.
Each unit sold in the IPO consists of one Class A ordinary share and one-half of a warrant, with each whole warrant entitling the holder to purchase one Class A ordinary share at a set exercise price. Upon the closing of a business combination, holders of warrants may choose to exercise their rights to acquire additional shares, subject to the terms set forth in the warrant agreement. If Gores Holdings X does not complete a qualifying business combination by its deadline, it must liquidate and return funds to public investors.
Gores Holdings X is sponsored by The Gores Group, a global investment firm founded by Alec Gores. The SPAC’s management team comprises professionals with experience in private equity, corporate finance and operational management, drawing on The Gores Group’s track record of transactions in carve-outs, turnarounds and growth-oriented acquisitions. The company’s governance structure includes an independent board of directors to oversee the pursuit of its stated business combination objectives.
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