11/25/2024 | Press release | Distributed by Public on 11/25/2024 07:19
Item 8.01 Other Events
At a meeting of the board of directors (the "Board") of Gores Holdings IX, Inc. (the "Company") held on November 22, 2024, the Board determined that the Company will not be able to complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses by December 6, 2024 (the "Termination Date"), as required by the Company's Second Amended and Restated Certificate of Incorporation (the "Charter"). As a result, and pursuant to the Charter, the Company will: (i) as of the Termination Date, cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible, redeem 100% of the outstanding shares of the Company's Class A common stock, par value $0.0001 per share (the "Public Shares") in consideration of a per-shareprice, payable in cash, equal to the quotient obtained by dividing (A) the aggregate amount then on deposit in a U.S. based trust account maintained by Computershare Trust Company, N.A., acting as trustee, including interest not previously released to the Company to fund regulatory compliance requirements and other costs related thereto, and/or to pay its franchise and income taxes (less up to $100,000 of such net interest to pay dissolution expenses), by (B) the total number of then outstanding Public Shares, which redemption will completely extinguish rights of the public stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law; and (iii) as promptly as reasonably possible following the redemption, subject to the approval of the remaining stockholders in accordance with applicable law, dissolve and liquidate, subject in each case to the Company's obligations under the General Corporation Law of the State of Delaware, as amended from time to time, to provide for claims of creditors and other requirements of applicable law.
The Company expects to effect the redemption on or around December 6, 2024. For illustrative purposes, based on the balance of the trust account as of October 31, 2024, the estimated per-shareredemption price would be approximately $10.12. The Company's warrants will expire worthless.
Forward-Looking Statements
This communication may include, and oral statements made from time to time by representatives of the Company may include, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this communication are forward-looking statements. When used in this communication, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to the Company or the Company's management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the Securities and Exchange Commission (the "Commission"). All subsequent written or oral forward-looking statements attributable to the Company or persons acting on the Company's behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's annual report on Form 10-Kfor the fiscal year ended December 31, 2023, filed with the Commission on March 20, 2024, as amended on November 13, 2024. The Company undertakes no obligation to update these statements for revisions or changes after the date of this communication, except as required by law.