Footprints solutions are capitalizing on a growing $315 billion annual market opportunity that is converting to environmentally friendly solutions as quickly as possible, the companies said. The balance sheet strength of the combined company is anticipated to enable Footprint to expand our operations and geographic reach as we scale our technology to meet record customer demand., Alec Gores, Chairman and CEO of The Gores Group and Chairman of Gores Holdings VIII, said: Footprint is a true pioneer and disruptor in sustainability, delivering leading technology and solutions that are revolutionizing the use of plant-based materials. The company, ranked No. Footprint says its plant-based fiber bowls, clamshell containers, trays, cups, and other consumer packaging products have already eliminated more than 61 million pounds of plastic. Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC and LionTree Advisors LLC are acting as joint placement agents on the PIPE investment. For inquiries regarding The Gores Group and affiliates: Jennifer Kwon ChouManaging DirectorThe Gores Group310-209-3010jchou@gores.com, John Christiansen/Cassandra BujarskiSard Verbinnen & CoGoresGroup-SVC@sardverb.com, For investors:Reed AndersonReed.Anderson@icrinc.com612-710-8617, For media:Cory ZiskindCory.Ziskind@icrinc.com646-277-1232, Heather KnoxSVP Communications, FootprintHeather.knox@footprintus.com425-295-5967. What communities wish to see in their neighborhoods, how they choose to go about their day to day routine, and what it takes to get there, literally and figuratively. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. It is also believed that the current owners might welcome Bezos to their ranks. Its sustainable products are designed with the entire product lifecycle in mind, and are made from 100% bio-based, biodegradable, compostable and recyclable fibers. GILBERT, Arizona & LOS ANGELES December 14, 2021 Footprint International Holdco, Inc. (Footprint or the Company), a global materials science technology company focused on sustainable solutions, and Gores Holdings VIII, Inc. (Gores Holdings VIII) (Nasdaq: GIIXU, GIIX and GIIXW), a special purpose acquisition company formed by an affiliate of The Gores Group, LLC (The Gores Group) today announced that they have entered into a definitive merger agreement that, subject to the consummation of the transaction, will result in Footprint becoming a publicly listed company. Required fields are marked *. Finder monitors and updates our site to ensure that what were sharing is clear, honest and current. here to register, Not for publication, email or dissemination, Shannon OLeary on diversity and steering clear of peak stupid, Ares backs BlueCove; Thoma Bravo closes Coupa deal; plus Black History Month interviews, Red Arts Chad Strader: Diversity is good for business; US PE firms vie for public European names, PE pioneer Thomas H. Lee passes away; ArcLights Great River Hydro exit plus evolution of infrastructure investments, DCP Capital to buy stake in Chinese business of Jamieson Wellness, Peak Rock-backed Hospeco Brands Group acquires Innocore. The company has its headquarters near Germann and Gilbert roads and employs more than 2,500 people in the U.S., Mexico, Europe and Asia. Please refer to our Risk Disclosure Statement. 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The deal is expected to value Footprint at $1.6 billion following the SPAC merger's completion. Let us look into it! Finder is a registered trademark of Hive Empire Pty Ltd, and is used under license by The definitive proxy statement/final prospectus will be mailed to stockholders of Gores Holdings VIII as of a record date to be established for voting on the business combination. We want to hear from you. Footprints products have already led to a global redirection of 61 million pounds of plastic waste from entering the air, earth, and water working with leading global consumer brands. Footprints team of engineers use plant-based fiber technology to design, develop and manufacture biodegradable, compostable, and recyclable products that compete with plastics cost, and exceed its performance. Plus, compare stock trading platforms that offer stock lending. Everything we know about the TXO Energy IPO, plus information on how to buy in. Were Footprints blue-chip customer base includes Conagra, General Mills, Gillette, JBS Foods, Kraft, McDonalds, Sweetgreen, Nestle, Upfield, Procter & Gamble, Quaker, Taylor Farms, Tyson, Unilever and Walmart. Footprint is part of 18 brands that grew business within their communitiesand the environmentin mind on the 2022 Brands That Matter list by Fast Company. Here are some steps that can help. Recognized by Business Intelligence Group for culture, products, and people. Footprint to go public via merger with Gores-backed SPAC Footprint, a global materials science technology company focused on sustainable solutions, has Weekly Start-up Funding Roundup (February 6 to 12), SC Grants Highest Level Z-Plus Security to Mukesh Ambani and Family Across India and Abroad, Eventbrite Inc restructuring plan to affect 30% of remaining job roles, Tesla CEO Elon Musk Becomes Worlds Richest Person Once Again, How to Bury a spiders Head in the ground(Duelling Feat) in Hogwarts Legacy, Users baffled as WhatsApp keeps crashing on iPhone, House Speaker Nancy Pelosi opposes banning Congress members from owning individual stocks, Best website hosting service providers 2023. The deal nets Joby $1.6 billion and values the company at $6.6 billion. Additional information regarding the names and interests of such participants will be contained in the Registration Statement for the proposed business combination when available. While adults may find that sports gambling is a way to enhance the experience with more than just fandom on the line, it can be a dangerous proposition if children get involved in the activity. If you rely on the information on this page then you do so entirely on your own risk. In July, the company also entered into an agreement with the Phoenix Suns, re-naming the NBA team's home complex to Footprint Center, while also working with the sports team to eliminate single-use plastic and test new technologies at their facility. When comparing offers or services, verify relevant information with the institution or provider's site. Provides an effective tool for decision makers, public agency staff, and the public to identify land use planning options. Footprint, an Arizona-based materials science technology company known for its plant-based packaging, will make its market debut by merging with blank-check firm Gores Holdings VIII. Footprint International Holdco Inc., a maker of coating technologies that allow plant-based materials to compete with traditional plastic-based materials. A replay of the call can be accessed by dialing +1 (855) 213-8235 (domestic toll-free number) or +1 (571) 982-7683 (international) and providing the conference ID 264059#. After the deal closes in the first half of 2022, the company based in Gilbert, Arizona will list on the NASDAQ under the FOOT ticker. With Footprints current customers demanding more product and new customers seeking out Footprint as its sustainable innovation partner, Footprint has over $500 million of annual revenue contracted by its customers and is already more than fully committed on its 2023 estimated revenue. Numerous websites and internet services employ text messages sent via SMS for multi-factor authentication and password resets. Assuming no redemptions by the public stockholders of Gores Holdings VIII, the business combination will provide approximately $805 million in gross proceeds to fund the combined companys growth strategy. Still, valuations have gained as money managers are also increasingly factoring in ESG policies in their investments. Click WebWhat is UrbanFootprint? So the footprint of Eurostar is around 4% of a flight: [ 6 / 156 *100 = 4%]. It is common for all citizens in a digital society to have a digital footprint. Their customers include Walmart (WMT.N), McDonalds (MCD.N), Kraft Heinz Co (KHC.O), and Nestle (NESN.S). 8 For carbon labelling to be fully embraced by consumers, there is a need for broad-based education programmes and initiatives such as the carbon footprint Footprint, a materials-science technology company seeking to eliminate single-use plastic, agreed to merge with Gores Holdings VIII Inc., a special purpose acquisition company led by billionaire Alec Gores. 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Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 and within the meaning of the federal securities laws with respect to the proposed business combination between the Gores Holdings VIII and Footprint, including statements regarding the benefits of the proposed business combination, the anticipated timing of the proposed business combination, the likelihood and ability of the parties to successfully consummate the proposed business combination and the PIPE investment, the amount of funds available in the trust account as a result of shareholder redemptions or otherwise, the services offered by Footprint and the markets in which Footprint operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Gores Holdings VIIIs or Footprints projected future results. The Today, we are inventing and manufacturing solutions that replace short-term use plastic. information service that aims to provide you with information to help you make better decisions. Footprint is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. 2023 Capital Com SV Investments Limited. US-based materials science technology company Footprint International Holdco has agreed to merge with Gores Holdings VIII, to become a public traded company. To date, affiliates of The Gores Group have announced or closed ten business combinations representing approximately $60 billion in transaction value which include: Hostess (Gores Holdings, Inc.), Verra Mobility (Gores Holdings II, Inc.), PAE (Gores Holdings III, Inc.), Luminar (Gores Metropoulos, Inc.), United Wholesale Mortgage (Gores Holdings IV, Inc.), Ardagh Metal Packaging (Gores Holdings V, Inc.), Matterport (Gores Holdings VI, Inc.), Sonder (pending; Gores Metropoulos II, Inc.), Polestar (pending; Gores Guggenheim) and Footprint (pending; Gores Holdings VIII, Inc.). Get this delivered to your inbox, and more info about our products and services. 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