Gores Holdings XII, Inc. - IPO
Gores Holdings XII, Inc. will redeem 100% of public shares at a per-share price based on the aggregate amount in the trust account, including interest, if a business combination is not completed within 24 months of the offering.
Why this matters
Gores Holdings XII, Inc. is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands, designed to merge with or acquire another business within 24 months of its IPO. If it fails to complete a business combination within this timeframe, the company will redeem 100% of its public shares at a per-share price based on the trust account's aggregate amount, including interest. The IPO is structured to provide the company with the capital necessary to pursue potential acquisition targets, with the stipulation that if a business combination is not achieved, investors will receive their money back. The company has independent directors in place, and no cash compensation has been provided to its officers or directors for their services.