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Gores Holdings X, Inc., a blank check company, announced on Monday that it successfully completed its initial public offering (IPO) and a private sale, resulting in substantial gross proceeds. The IPO, which took place on May 5, 2025, involved the sale of 35,880,000 units, including 4,680,000 units issued through the full exercise of the underwriter’s over-allotment option. Each unit, priced at $10, included one Class A ordinary share and one-fourth of one warrant, with each whole warrant enabling the purchase of one Class A ordinary share at $11.50. According to InvestingPro data, the units now trade at $10.13, with notably low price volatility since listing.
The IPO generated gross proceeds of $358,800,000 for Gores Holdings X. Concurrent with the IPO, the company also sold 225,000 Class A ordinary shares at $10 each to its sponsor, Gores Sponsor X LLC, in a private placement, raising an additional $2,250,000.
Following the closing of the IPO and the private sale, a total of $358,800,000 was placed into a trust account maintained by Computershare Trust Company, N.A., as trustee. This sum includes $358,550,000 from the IPO proceeds, with approximately $10,764,000 constituting the underwriter’s deferred discount, along with $250,000 from the private sale.
The company has issued an audited balance sheet as of May 5, 2025, which reflects the receipt of the proceeds from both the IPO and the private placement. This financial statement has been included as Exhibit 99.1 in the Current Report on Form 8-K.
Gores Holdings X, which is incorporated in the Cayman Islands and headquartered in Boulder, Colorado, has its securities listed on The Nasdaq Stock Market LLC under the symbols GTENU for its units, GTEN for its Class A ordinary shares, and GTENW for its warrants. The company currently maintains a market capitalization of $394.68 million, with an average daily trading volume of 2.16 million units over the past three months. InvestingPro analysis reveals several additional insights about the company’s trading patterns and financial health metrics - unlock these valuable insights with a subscription to make more informed investment decisions in SPACs and other investment vehicles.
This news is based on the company’s recent SEC filing and provides investors with the latest financial developments of Gores Holdings X, Inc.
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