Gores Holdings VIII and Footprint Announce Amended Terms for Business Combination
September 6, 2022
Footprint and Gores Holdings VIII amended the terms of their previously announced definitive merger agreement amid developing market conditions, including revising the combined company’s estimated pro forma enterprise value to $1.0 billion from $1.6 billion. The update provides additional incremental capital sources—including a $300 million standby equity facility available upon closing—targeting approximately $960 million of capital delivered to Footprint for the business combination and future growth.
- Buyers
- Gores Holdings VIII, Inc., Koch Strategic Platforms, Gores Sponsor VIII LLC, The Gores Group LLC, Footprint International Holdco, Inc.
- Targets
- Footprint International Holdco, Inc., Footprint
- Industry
- Manufacturing
- Location
- Arizona, United States
- Transaction Type
- Buyout
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