Gores Group to take another company public via SPAC

BOULDER and GILBERT, Arizona — Investment firm The Gores Group announced Tuesday that it plans to take public Arizona manufacturing company Footprint via a special-purpose acquisition company.  

As a SPAC transaction, the companies will combine in a reverse merger, with the new company trading publicly under the Footprint name and branding. The company currently trades under the stock ticker GIIX. When the merger is complete, the ticker symbol will change to FOOT.

Footprint is focused on plastic replacement, reduction and elimination through the development of plant-based polymers and manufacturing technologies for fiber-based packaging.

SPONSORED CONTENT

Business Cares: April 2024

In Colorado, 1 in 3 women, 1 in 3 men and 1 in 2 transgender individuals will experience an attempted or completed sexual assault in their lifetime. During April, we recognize Sexual Assault Awareness Month with the hopes of increasing conversations about this very important issue.

This will be the tenth company that The Gores Group has taken public via SPAC. Its previous mergers included snack company Hostess, lender United Wholesale Mortgage, imaging software company Matterport and Swedish electric vehicle manufacturer Polestar.

This article has been updated to reflect the correct number of companies The Gores Group has taken public via SPAC.

© 2021 BizWest Media LLC