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Gores Guggenheim announced that the underwriters partially exercised their option to purchase 5,000,000 units, generating an additional $50 million in gross proceeds on April 22, 2021. This brings the total issuance to 80 million units at $10 per unit, totaling $800 million. The units, which began trading on March 23, 2021, under the symbol 'GGPIU,' comprise one share of Class A common stock and one-fifth of a warrant. Upon separate trading, the common stock and warrants will trade under 'GGPI' and 'GGPIW', respectively.
Gores Guggenheim, Inc. has announced the pricing of its initial public offering (IPO) of 75,000,000 units, priced at $10.00 each. The units will trade on the Nasdaq under the symbol GGPIU starting March 23, 2021. Each unit includes one share of Class A common stock and one-fifth of a warrant, with each whole warrant allowing the purchase of one share at $11.50. Underwriters have a 45-day option for an additional 11,250,000 units. The offering's details are available in the prospectus following SEC approval on March 22, 2021.