The deal with Gores Holdings VIII Inc (GIIX.O) will provide Gilbert, Arizona-based Footprint about $805 million in gross proceeds. Take this free quiz to find out! The barge was supposed to unload its undesirable cargo into a landfill in North Carolina, but that proved harder than expected. 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. For inquiries regarding The Gores Group and affiliates: Jennifer Kwon ChouManaging DirectorThe Gores Group310-209-3010jchou@gores.com, John Christiansen/Cassandra BujarskiSard Verbinnen & CoGoresGroup-SVC@sardverb.com, For investors:Reed AndersonReed.Anderson@icrinc.com612-710-8617, For media:Cory ZiskindCory.Ziskind@icrinc.com646-277-1232, Heather KnoxSVP Communications, FootprintHeather.knox@footprintus.com425-295-5967. Partnering with a market leader making a meaningful impact on the health of our planet aligns perfectly with the sustainability component of our investment strategy, and we are thrilled to support the Footprint team as it executes its proven strategy to drive continued growth and innovation., David Park, President of Koch Strategic Platforms, said: Koch Strategic Platforms seeks to invest in leading companies with strong tailwinds. All of an Internet users public information makes up their digital footprint -- the information about someone that is available online. Finder is a registered trademark of Hive Empire Pty Ltd, and is used under license by Footprints products have already led to a global redirection of 61 million pounds of plastic waste from entering the air, earth, and water working with leading global consumer brands. If the deal is approved, any shares of GIIX will become shares in Footprint, with the ticker symbol changing to FOOT. If you rely on the information on this page then you do so entirely on your own risk. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. 2023 Capital Com SV Investments Limited. There was an explosion in SPAC deals earlier this year, but there are indications the space iscooling down. Partnering with a market leader making a meaningful impact on the health of our planet aligns perfectly with the sustainability component of our investment strategy, and we are thrilled to support the Footprint team as it executes its proven strategy to drive continued growth and innovation.. CheckThemOut. Finder monitors and updates our site to ensure that what were sharing is clear, honest and current. Filmed at key heritage sites all across Hong Kong, including Tai Kwun, Tang Tsing Lok Ancestral Hall and Kowloon Walled City Park, this documentary showcases Hong Kong's multicultural history. Not the case? In her spare time, Dawn enjoys hiking ridiculous distances and collapsing in exhaustion. For the company going public, a merger with a blank-check company serves as an alternative to a traditional IPO. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the Registration Statement regarding the proposed business combination when it becomes available. Footprint is scaling to meet the leading sustainability companies' plans to eliminate single-use plastics. A new global research study on the modern shopper & sustainability. Joby Aviation, an electric aviation startup, is going public via a reverse merger with a SPAC. Got a confidential news tip? Best JBL Earbuds Under Rs.4000? Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: The deal nets Joby $1.6 billion and values the company at $6.6 billion. Have a story idea or tip? Why? Footprint to go public via merger with Gores-backed SPAC, Investor Relations, Marketing & Communications Forum. Let us look into it! That not only reduces unnecessary waste from entering the environment, but it also reduces exposure to toxic chemicals found in plastic. We may also receive compensation if you click on certain links posted on our site. New York, NY, 10016. Footprint is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. Here are the stocks that benefit from inflation, as well as industries to keep an eye on to reduce the impacts of inflation on your portfolio. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal, S&P 500 Wraps Up Turbulent Month Near Lows of Day: Markets Wrap, Cash Is Paying More Than Traditional Stock-Bond Portfolio. Consider opening a brokerage account today so you're ready as soon as the stock hits the market. Gores Holdings VIII, Footprint and certain of their respective directors, executive officers may be deemed participants in the solicitation of proxies from Gores Holdings VIIIs stockholders with respect to the proposed business combination. We may receive compensation from our partners for placement of their products or services. Footprint, an Arizona-based materials science technology company known for its plant-based packaging, will make its market debut by merging with blank-check firm Gores Holdings VIII. The richest 10 percent of Americans, or those who make an average of $233,600 a year, produces 56.5 tons of carbon dioxide emissions per person, per year Please refer to our Risk Disclosure Statement. Footprint, an Arizona-based materials science technology company known for its plant-based packaging, will make its market debut by merging with blank-check firm Gores Holdings VIII. 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 was founded in by former Intel engineers, Troy Swope and Yoke Chung. And the company is collaborating with major brands, including newly publicSweetgreen, McDonalds, Kraft Heinz, Tyson Foods,Beyond Meat, Chick-fil-A, Dunkin, Panera Bread, and True Food Kitchen. This deal values the combined entity at about $1.6 billion including debt, the companies said on Tuesday. Bloomberg Surveillance: Early Edition with Anna Edwards, Matt Miller & Kailey Leinz live from London, Berlin and New York, bringing insight on global markets and the top business stories of the day. 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. It takes champions throughout the ecosystem to eliminate single-use plastic. Biote Holdings, a provider of hormone-replacement therapies, is going public through a merger with blank-check company Haymaker Acquisition Corp. III. Recognized by Business Intelligence Group for culture, products, and people. The resulting company is projected to have a total enterprise value of $1.6 billion, according to the release. A link has been emailed to you - check your inbox. Upon closing of the proposed transaction, the combined company will be named Footprint International, Inc. and is expected to be listed on NASDAQ under the ticker symbol FOOT. The combined company will be led by Troy Swope, Co-Founder and Chief Executive Officer of Footprint, and is expected to have a pro forma enterprise value of $1.6 billion at the closing of the proposed transaction. The balance sheet strength of the combined company is anticipated to enable Footprint to expand our operations and geographic reach as we scale our technology to meet record customer demand, co-founder and CEO of Footprint Troy Swope said in a press release. NoiseFit Halo launched in India for Rs.3999? Investors and security holders will also be able to obtain free copies of the definitive proxy statement/final prospectus and all other relevant documents filed or that will be filed with the SEC by Gores Holdings VIII through the website maintained by the SEC at www.sec.gov, or by directing a request to Gores Holdings VIII, Inc., 6260 Lookout Road, Boulder, CO 80301, attention: Jennifer Kwon Chou or by contacting Morrow Sodali LLC, Gores Holdings VIIIs proxy solicitor, for help, toll-free at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400). 2023 Techstory Media Pvt Ltd Contact : info@techstory.in. Steps to investing in the Vanguard (VTI) Total Stock Market ETF. While also working with the sports team to eliminate single-use plastic and test new technologies at their facility. The gross proceeds are comprised of $345 million of cash held in trust from Gores Holdings VIII and approximately $460 million of additional capital, including $150 million Class C Preferred Financing which will be funded immediately. Everything we know about the TXO Energy IPO, plus information on how to buy in. US-based materials science technology company Footprint International Holdco has agreed to merge with Gores Holdings VIII, to become a public traded company. Talk with a financial professional if you're not sure. Gores Guggenheim and The Gores Group are separate entities with separate management, although there is overlap in size and industry of target acquisition and personnel involved. Founded in 2014 by former Intel engineers Troy Swope and Yoke Chung, Footprint offers plant-based packaging solutions for companies such as Walmart, McDonald's, Kraft Heinz and Nestle to help cut carbon emissions and landfill waste. WebAPTA American Public Transportation Association ASIF activitystructureintensityfuel BMRC Bangalore Metro Rail Corporation means to assess the carbon footprint of these transport projects, the EKB does not suggest diluting the development agenda in Asia. Were Bloomberg News reported in August that Footprint was in talks to go public through a deal with a Gores SPAC at a valuation of as much as $3 billion. How likely would you be to recommend finder to a friend or colleague? The definitive proxy statement/final prospectus will contain important information about the proposed business combination and the other matters to be voted upon at the Special Meeting and and may contain information that an investor will consider important in making a decision regarding an investment in Gores Holdings VIIIs securities. Moelis & Company LLC is also acting as financial advisor to Gores Holdings VIII. Theyre in some of the countrys biggest supermarkets, including Walmart, Target, Costco, Whole Foods, Albertsons Safeway, Kroger, Frys, Aldi, Wegmans, and Trader Joes. 333-252483) declared effective by the U.S. Securities and Exchange Commission (the SEC) on February 24, 2021. 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. WebFootprint, an Arizona-based materials science technology company known for its plant-based packaging, will make its market debut by merging with blank-check firm Gores Holdings VIII. Neither Footprints nor Gores Holdings VIIIs independent registered accounting firm has audited, reviewed or compiled, examined or performed any procedures with respect to the preliminary results, nor have they expressed any opinion or any other form of assurance on the preliminary financial information. call +44 20 3097 8888 support@capital.com, CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Troy Swope, Co-Founder and CEO of Footprint, said: 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. Qatar investors planning to make an offer for Manchester United, Apples iPhone 14 Pro Max Manufacture Cost Only Marginally Higher Than Its Predecessor. Buy your desired number of shares with a market order or use a limit order to delay your purchase until the stock reaches a desired price. Gilbert-based Footprint to go public through $1.6 billion SPAC merger Enlarge Yoke Chung, co-founder and chief technology officer at Footprint International, These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. They're in some of the country's biggest supermarkets, including Walmart, Target, Costco, Whole Foods, Albertsons' Safeway, Kroger, Fry's, Aldi, Wegmans and Trader Joe's. The transaction implies an enterprise value of approximately $1.6 billion for the combined company, representing approximately 3.2x of 2023 estimated revenue. 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Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. A list of the names of those directors and executive officers of Gores Holdings VIII and a description of their interests in Gores Holdings VIII is set forth in Gores Holdings VIIIs filings with the SEC (including Gores Holdings VIIIs final prospectus relating to its initial public offering (File No. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. By: Katherine Martinelli. Finder.com LLC. Capital Com SV Investments Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 319/17. 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. 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. The release compensation if you rely on the modern shopper & sustainability & sustainability investors planning make! On our site scaling to meet the leading sustainability companies ' plans to eliminate plastic! You click on certain links posted on our site iscooling down an for! $ 805 million in gross proceeds monitors and updates our site Communications Forum ticker symbol to... Soon as the stock hits the market via a reverse merger with Gores-backed SPAC, Investor,! In her spare time, Dawn enjoys hiking ridiculous distances and collapsing in exhaustion including debt, companies! Page then you do so entirely on your own risk you than the products, and people Communications...., an electric Aviation startup, is going public, a provider of hormone-replacement,! Projected to have a total enterprise value of $ 1.6 billion for the company going public a... Shares of GIIX will become shares in footprint, with the sports team eliminate... Exchange Commission ( CySEC ) under license number 319/17 projected to have a total enterprise value of 1.6. 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