Gores Holdings XI, Inc. has set the terms of its initial public offering, selling 31,200,000 units at $10.00 apiece for gross proceeds of $312,000,000. The offering was arranged by an affiliate of The Gores Group, which sponsors the blank-check company.
The units will commence trading on the Nasdaq Global Market under the ticker GHXIU beginning June 23, 2026. Each unit is composed of one Class A ordinary share together with one-fourth of one warrant. Each full warrant will permit the holder to acquire one Class A ordinary share at an exercise price of $11.50 per share.
When the bundled securities separate and begin to trade independently, the company expects the Class A ordinary shares to trade under the symbol GHXI and the warrants under GHXIW, both on the Nasdaq Global Market.
The company was organized specifically to pursue a business combination transaction. Its stated purpose is to enter into a merger, share exchange, asset acquisition, share purchase, reorganization, or a similar business combination with one or more operating businesses.
Santander is acting as sole underwriter for the offering. As part of the underwriting arrangements, Gores Holdings XI provided Santander with a 45-day option to buy up to an additional 4,680,000 units at the IPO price in order to cover any over-allotments that may arise.
The registration statement related to the IPO was declared effective by the U.S. Securities and Exchange Commission on June 22, 2026.
Contextual note on structure
The offering structure leaves holders with a fractional warrant interest as part of each unit. Fractional warrant interests are pooled so that four unit holders together will hold warrants that can be exercised to buy one share per warrant at the stated $11.50 exercise price.
Gores Holdings XI will remain focused on identifying and completing one or more qualifying business combinations consistent with the purpose for which it was formed. The availability of the underwriter over-allotment option provides a mechanism to address demand and stabilise the market for the securities immediately following the IPO.