The transaction is slated to give the combined company an enterprise value of $1.6 billion at its completion assuming there are no redemptions, according to a statement Tuesday confirming an earlier Bloomberg News report. Additional Information about the Proposed Transaction and Where to Find It. The company, ranked No. A transformative center for champions of a Healthy Planet & Healthy People. While adults may find that sports gambling is a way to enhance the experience with more than just fandom on the line, it can be a dangerous proposition if children get involved in the activity. To date, affiliates of The Gores Group have announced or closed ten business combinations representing approximately $60 billion in transaction value which include: Hostess (Gores Holdings, Inc.), Verra Mobility (Gores Holdings II, Inc.), PAE (Gores Holdings III, Inc.), Luminar (Gores Metropoulos, Inc.), United Wholesale Mortgage (Gores Holdings IV, Inc.), Ardagh Metal Packaging (Gores Holdings V, Inc.), Matterport (Gores Holdings VI, Inc.), Sonder (pending; Gores Metropoulos II, Inc.), Polestar (pending; Gores Guggenheim) and Footprint (pending; Gores Holdings VIII, Inc.). The company, which entered a multiyear naming rights deal with the Suns for Footprint Center in downtown Phoenix in July, will merge with Gores Holdings VIII. The software helps users experiment with the amount and location of land use and place types such as residential, commercial, and open space to create their own development scenarios. Uber boasts Current Footprint equity holders will retain approximately 62% ownership in Footprint and roll 100% of their equity interests into the pro forma company. When comparing offers or services, verify relevant information with the institution or provider's site. Make unlimited commission-free trades, plus earn 4% interest on uninvested cash in your account with Robinhood Gold. The transaction implies an enterprise value of approximately $1.6 billion for the combined company, representing approximately 3.2x of 2023 estimated revenue. The Inno Fire Awards honor the companies and people setting the local innovation economy Strong revenue delivery with Q1 revenue up 133% from prior year, in addition to strong Groasis selects Footprints plant-based fiber for its innovative Growboxx Arid, Footprints straws are used by McDonalds, Chick-fil-A and Panera Bread, replacing plastic. Gores Holdings VIII may also file other documents regarding the proposed business combination with the SEC. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Footprint or that actual results will not differ materially from those presented in the prospective financial information. Dawn Daniels is a publisher with Finder, based out of Oregon. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. CIOs and IT teams should begin with obvious action steps, in other words, "low-hanging fruit." The material provided on this website is for information purposes only and should not be understood as an investment advice. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Before making any voting decision, investors and security holders of Gores Holdings VIII and other interested parties are urged to read the Registration Statement and the proxy statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed business combination. Looking at the performance of similar companies can help you decide if now is a good time to buy Footprint stock. Footprint International Holdco Inc., a maker of coating technologies that allow plant-based materials to compete with traditional plastic-based materials. Our mission is to create a healthier planet and step one is to design, develop and manufacture plant-based fiber solutions as an alternative to single-use plastics, Troy Swope, Footprint co-founder and CEO, said in a press release. Footprint anticipates a value of $1.6 billion at the end of a merger that will take the company public. Footprints team of engineers use plant-based fiber technology to design, develop and manufacture biodegradable, compostable, and recyclable products that compete with plastics cost, and exceed its performance. The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. The major market events for the week ahead right in your inbox. Heres how to buy shares in the major tech companies, known as FAANG stocks. Recognized by Business Intelligence Group for culture, products, and people. Notably, Footprints 2023 revenue estimate can be achieved entirely with products that are developed and in market today and secured by customer contracts with leading blue-chip customers. Finder is a registered trademark of Hive Empire Pty Ltd, and is used under license by Footprint is rapidly expanding into new categories with customized and patented solutions for customers. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Footprint was named to the 2020 Fortune Change the World list in 2020, is a member of the World Economic Forums Global Innovators Community and was named a CNBC Disruptor 50 company in 2021. US-based materials science technology company Footprint International Holdco has agreed to merge with Gores Holdings VIII, to become a public traded company. The PIPE, priced at $10 a share, was backed by Koch Strategic Platforms among others and Koch separately committed to provide $150 million in preferred financing. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Planning is inherently about vision. Your email address will not be published. You have the option of making a monthly donation. Joby Aviation, an electric aviation startup, is going public via a reverse merger with a SPAC. Have a story idea or tip? For the company going public, a merger with a blank-check company serves as an alternative to a traditional IPO. Inclusion of the prospective financial information in this Press Release should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. Buying an IPO is as simple as buying any other stock, but not every trading platform offers IPO stocks. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. The proceeds also consist of an oversubscribed private investment of $460m. The deal, which is subject to the approval of Gores Holdings VIIIs stockholders, is expected to close in the first half next year. Footprint Foundation educates, engages, and empowers people to act to reduce the use of plastic that causes harm to the planet and human health. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: Footprint and the Suns are aiming to get fans involved, from videos talking about sustainability and how to manage their trash on the giant scoreboard during games, to encouraging people to sign up for a climate pledge initiative to cut plastics from their lives. Footprint, founded in 2014, offers plant-based solutions to help companies cut carbon emissions and landfill waste. The deal features a roughly $310 million private investment in public equity, or PIPE. So the footprint of Eurostar is around 4% of a flight: [ 6 / 156 *100 = 4%]. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of Gores Holdings VIII securities; (ii) the risk that the proposed business combination may not be completed by Gores Holdings VIIIs business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Gores Holdings VIII; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination and PIPE investment, including the approval of the proposed business combination by Gores Holdings VIIIs stockholders, the satisfaction of the minimum trust account amount following redemptions by Gores Holdings VIIIs public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the failure to obtain financing to complete the proposed business combination, including to consummate the PIPE investment, (v) the effect of the announcement or pendency of the proposed business combination on Footprints business relationships, performance, and business generally; (vi) risks that the proposed business combination disrupts current plans of Footprint and potential difficulties in Footprints employee retention as a result of the proposed business combination; (vii) the outcome of any legal proceedings that may be instituted against Gores Holdings VIII or Footprint related to the agreement and the proposed business combination; (viii) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination (ix) the ability to maintain the listing of the Gores Holdings VIIIs securities on the NASDAQ; (x) the price of Gores Holdings VIIIs securities, including volatility resulting from changes in the competitive and highly regulated industries in which Footprint plans to operate, variations in performance across competitors, changes in laws and regulations affecting Footprints business and changes in the combined capital structure; (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities; and (xii) other risks and uncertainties set forth in the section entitled Risk Factors and Cautionary Note Regarding Forward-Looking Statement in Gores Holdings VIII final prospectus relating to its initial public offering (File No. Amazon CEO Jeff sets his sight on buying NFL team, Hackers breached T-Mobile more than 100 times in 2022, 1 out of every 5 US adults own crypto: Coinbase survey, OKX revealed its reserves; $8.6 billion in Bitcoin, Ethereum and dollars, SEC subpoenaed Robinhood over crypto operations, Xiaomi Wireless AR Smart Glasses has been showcased for MWC 2023 event. Her background includes editing more than 40 published books, including books on personal finance and meditation. Creates a common platform for stakeholders to depict a wide range of land use and planning concepts and scenarios. Police are searching for an armed man after receiving reports of shots fired in Queen Creek, temporarily locking down a school and placing residents on alert. Its sustainable products are designed with the entire product lifecycle in mind, and are made from 100% bio-based, biodegradable, compostable and recyclable fibers. articles a month for anyone to read, even non-subscribers! A link has been emailed to you - check your inbox. In one of her first actions at the border since taking office, Arizona Gov. Globally, total transport activity is expected to more than double by 2050 compared with 2015 under the trajectory reflecting current efforts. Footprint offers game-changing materials science solutions that are the gold standard in the industry as the world transitions to plastic alternatives, Mark Stone, The Gores Group senior managing director and Gores Holdings VIII CEO, said in the release. Materials science company Footprint on Tuesday agreed a merger and initial public offering (IPO) deal with special purpose acquisition company (SPAC) Gores Holdings VIII (GIIX), valuing the company at around $1.6bn (1.2bn). Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 and within the meaning of the federal securities laws with respect to the proposed business combination between the Gores Holdings VIII and Footprint, including statements regarding the benefits of the proposed business combination, the anticipated timing of the proposed business combination, the likelihood and ability of the parties to successfully consummate the proposed business combination and the PIPE investment, the amount of funds available in the trust account as a result of shareholder redemptions or otherwise, the services offered by Footprint and the markets in which Footprint operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Gores Holdings VIIIs or Footprints projected future results. 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