LOS ANGELES–(BUSINESS WIRE)–Gores Holdings II, Inc. (the “Company”), a blank check company sponsored by an affiliate of The Gores Group, LLC, a global investment firm founded in 1987 by Alec Gores, and formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of 40,000,000 units, which includes 2,500,000 units issued pursuant to the partial exercise by the underwriter of its over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $400,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
The Company’s units began trading on the NASDAQ Capital Market under the ticker symbol “GSHTU” on January 13, 2017. Each unit consists of one share of the Company’s Class A common stock and one-third of one warrant. Each whole warrant will entitle the holder thereof to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class…