Gores Technology Partners II, Inc.
GTPBW
NASDAQ Capital Market0.00
USD
- -
- -
CIK
0001842046
Return %
Stock
S&P500
1Y
-99.98
18.21
3Y
-99.99
63.29
5Y
-99.99
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Edward W. Fike
- Full Time Employees
- 3
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 6260 Lookout Road Boulder CO United States of America
- IPO Date
- May 3, 2021
- CIK
- 0001842046
- Similar Companies
- Business
- Gores Technology Partners II, Inc. is a special purpose acquisition company (SPAC) sponsored by an affiliate of The Gores Group, LLC, focused on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses primarily in the technology sector. Its target industries include consumer Internet, enterprise software, fintech, digital health, proptech, gaming, agriculture technology, and logistics. The company completed its initial public offering in March 2021, raising approximately $460 million in cash proceeds. Headquartered in the United States, Gores Technology Partners II operates as a blank check company and has not commenced any business operations or generated revenue itself. In recent years, the company has faced challenges completing a suitable merger or acquisition due to adverse market conditions, including regulatory uncertainty around SPACs, a limited pool of public company-ready business combination partners, high redemption rates, and a deteriorating PIPE market. As a result, in late 2022, Gores Technology Partners II announced plans to redeem all its outstanding public shares and liquidate before the original termination date in early 2023. The leadership determined that these actions were in the best interests of its stockholders given the improbability of completing an initial business combination. Despite this liquidation plan, The Gores Group continues to maintain an active commitment to SPACs and seeks to leverage these vehicles for raising capital and taking quality companies public beyond 2023. The company is part of The Gores Group's broader portfolio that includes technology, telecommunications, business services, industrial, media and entertainment, and consumer products businesses. The Gores Group has a history of SPAC transactions valued at tens of billions of dollars and has made notable acquisitions and partnerships in companies such as Hostess, Verra Mobility, PAE, and Luminar. Gores Technology Partners II’s strategic focus remains firmly on technology and adjacent sectors with growth potential, though as of the latest updates, it is in liquidation phase and no longer actively pursuing new mergers or acquisitions. Founded and headquartered in the United States, the company epitomizes the SPAC model, accumulating capital through public offerings to acquire target companies but currently winding down operations following market difficulties and strategic reassessment.