Gores Holdings IV, Inc. (OTCMKTS:GHIVU) is a special purpose acquisition company (SPAC) sponsored by The Gores Group, a private equity firm founded by Alec Gores. Incorporated in Delaware in early 2021, the company completed its initial public offering in March 2021, raising approximately $306 million through the sale of units on the over-the-counter market. As a blank-check vehicle, Gores Holdings IV holds its IPO proceeds in trust pending identification and completion of a qualifying business combination.
The company’s primary activity is to source, negotiate and execute a merger, capital stock exchange, asset acquisition or other business combination with one or more operating businesses. Gores Holdings IV has a stated focus on middle-market targets in sectors where The Gores Group brings operational and transaction expertise, including technology, industrials, business services and communications infrastructure. Once a transaction is announced and approved by shareholders, the combined entity typically assumes a public listing, providing target companies with access to public markets without the conventional IPO process.
Leadership and oversight of Gores Holdings IV derive from The Gores Group’s executive team and an independent board of directors with experience in corporate finance, M&A and operational turnarounds. Alec Gores serves as Executive Chairman of the sponsor, and the SPAC’s management committee includes professionals with decades of deal-making and industry background. Gores Holdings IV intends to complete its initial business combination within 24 months of its IPO, leveraging its sponsor’s track record in creating value through strategic acquisitions.
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