SPACInsider Logo
Gores Holdings VI (GHVI) Completes Matterport Deal
by Marlena Haddad on 2021-07-22 at 10:57am

Gores Holdings VI  (NASDAQ:GHVI) announced this morning that it has completed its combination with proptech firm Matterport following at a special meeting of shareholders on July 20.

The combined company will commence trading on Nasdaq under the new ticker symbol “MTTR” on July 23, 2021

The release did not include exact redemption figures, but noted that the deal’s final proceeds included about $310 million from Gores VI’s trust. Given that the SPAC had about $345 million in trust going into the vote, less deferred underwriting fees, that figure would indicate minimal redemptions.

But the total proceeds including $295 million PIPE still amounted to about $605 million, easily above the transactions $520 minimum cash condition. However, any amount of redemptions would be a surprise as Gores VI traded above $13 throughout July 16, the day of the SPAC’s redemption deadline. Redeeming would be an unnecessary hit.

The parties initially inked the $2.3 billion deal on February 8. Founded in 2011, Matterport has defined the spatial data category for the built world with its market-leading platform that turns any physical space into an immersive 3D digital twin. The Company has created the largest spatial data library in the world, with more than 10 billion square feet of space and growing.


  • Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are acting as financial advisors and capital markets advisors to Gores Holdings VI.
  • Moelis & Company, LLC is also acting as financial advisor to Gores Holdings VI.
  • Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are acting as joint lead placement agents on the PIPE
  • Credit Suisse is serving as exclusive financial advisor and capital markets advisor to Matterport and acted as joint lead placement agent on the PIPE.
  • Weil, Gotshal & Manges, LLP is acting as legal advisor to Gores Holdings VI.
  • Latham & Watkins LLP is serving as legal advisor to Matterport.
  • Orrick LLP is serving as Matterport’s general corporate counsel.
Recent Posts
by Marlena Haddad on 2023-06-02 at 6:24pm

Trajectory Alpha Acquisition Corp. (NYSE:TCOA) announced this afternoon that it has entered into a purchase and contribution agreement with its sponsor and J. Streicher Holdings, LLC. As a result, the SPAC will undergo a change in management. As part of the agreement, J. Streicher will pay $250,000 to Trajectory Alpha and $1.00 to the sponsor. In return,...

by Marlena Haddad on 2023-06-02 at 5:36pm

Latest SPAC Liquidations: Sound Point I, Bullpen Parlay, and Zimmer Energy Transition Sound Point Acquisition Corp I (SPCM) to Liquidate on June 4 Sound Point Acquisition Corp I, Ltd (NASDAQ: SPCM) announced today that it intends to liquidate and dissolve, effective as of June 4, 2023, and will redeem all of the outstanding Class A...

by Marlena Haddad on 2023-06-02 at 5:35pm

Latest Non-Redemption Agreements:  GSR II Meteora Acquisition Corp. GSR II Meteora Acquisition Corporation (GSRM) Adds Non-Redemption Agreement On May 31, 2023, GSR II Meteora Acquisition Corp., (NASDAQ:GSRM), entered into certain non-redemption agreements with certain third parties in connection with the special meeting of stockholders. Pursuant to such Non-Redemption Agreements, each Non-Redeeming Stockholder agreed that it will...

by Marlena Haddad on 2023-06-02 at 5:34pm

Athena Technology Acquisition Corp. II (NYSE:ATEK) announced this afternoon that it is postponing its extension vote scheduled for June 12 until June 13. Shareholders at the special meeting are to vote on a proposal to allow Athena Technology II to extend its transaction deadline on a monthly basis up to nine times from June 14,...

by Marlena Haddad on 2023-06-02 at 12:41pm

Clover Leaf Capital Corp. (NASDAQ: CLOE) has entered into a definitive agreement to combine with Digital Ally, Inc.’s (NASDAQ: DGLY) ticketing platform Kustom Entertainment at a pro forma equity value of approximately $222.2 million. Kansas City, Kansas-based Kustom Entertainment is a primary and secondary ticket platform that manages wholly-owned subsidiaries TicketSmarter and Kustom 440. Transaction Overview Clover...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved