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The Gores Group's seventh SPAC Gores Holdings VII files for a $400 million IPO

Jan 20, 2021 - Nasdaq

Gores Holdings VII, the seventh blank check company formed by The Gores Group, filed on Wednesday with the SEC to raise up to $400 million in an initial public offering.

The Boulder, CO-based company plans to raise $400 million by offering 40 million units at $10. Each unit consists of one share of common stock and one-eighth of a warrant, exercisable at $11.50. At the proposed deal size, Gores Holdings VII would command a market value of $500 million.

The company is led by Chairman ...