Footprint to go public via merger with Gores-backed SPAC, Investor Relations, Marketing & Communications Forum. SPACs or special purpose acquisition companies raise capital from public markets and use that cash to merge with a private company, with the goal of taking the company public within a two-year period. The richest 10 percent of Americans, or those who make an average of $233,600 a year, produces 56.5 tons of carbon dioxide emissions per person, per year Optional, only if you want us to follow up with you. Get this delivered to your inbox, and more info about our products and services. With corporations, regulators and consumers alike increasingly demanding high-quality, sustainable alternatives to single-use plastic, foam and other products, Footprints solutions are capitalizing on a growing $315 billion annual market opportunity that is converting to environmentally friendly solutions as quickly as possible. Founded in 2014 by two formerIntelengineers, Footprintdevelops and manufactures alternative solutions to single- and short-term-use plastic. Bloomberg Surveillance: Early Edition with Anna Edwards, Matt Miller & Kailey Leinz live from London, Berlin and New York, bringing insight on global markets and the top business stories of the day. The proposed business combination, which has been unanimously approved by both the Board of Directors of Gores Holdings VIII and the Board of Directors of Footprint, is expected to close in the first half of 2022, subject to approval by Gores Holdings VIIIs stockholders and other customary closing conditions. Sign up for free newsletters and get more CNBC delivered to your inbox. Weil, Gotshal & Manges LLP is serving as legal advisor to Gores Holdings VIII and Sidley Austin LLP is serving as legal advisor to the co-placement agents. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of Gores Holdings VIII securities; (ii) the risk that the proposed business combination may not be completed by Gores Holdings VIIIs business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Gores Holdings VIII; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination and PIPE investment, including the approval of the proposed business combination by Gores Holdings VIIIs stockholders, the satisfaction of the minimum trust account amount following redemptions by Gores Holdings VIIIs public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the failure to obtain financing to complete the proposed business combination, including to consummate the PIPE investment, (v) the effect of the announcement or pendency of the proposed business combination on Footprints business relationships, performance, and business generally; (vi) risks that the proposed business combination disrupts current plans of Footprint and potential difficulties in Footprints employee retention as a result of the proposed business combination; (vii) the outcome of any legal proceedings that may be instituted against Gores Holdings VIII or Footprint related to the agreement and the proposed business combination; (viii) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination (ix) the ability to maintain the listing of the Gores Holdings VIIIs securities on the NASDAQ; (x) the price of Gores Holdings VIIIs securities, including volatility resulting from changes in the competitive and highly regulated industries in which Footprint plans to operate, variations in performance across competitors, changes in laws and regulations affecting Footprints business and changes in the combined capital structure; (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities; and (xii) other risks and uncertainties set forth in the section entitled Risk Factors and Cautionary Note Regarding Forward-Looking Statement in Gores Holdings VIII final prospectus relating to its initial public offering (File No. Cochise County voted Tuesday to give responsibility for elections through 2024 to the county's elected Republican recorder. Other fees apply. Information on this page is for educational purposes only. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. 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. It has raised billions of dollars through multiple blank-check vehicles so far. Readers are cautioned not to put undue reliance on forward-looking statements, and Gores Holdings VIII and Footprint assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Notably, Footprints 2023 revenue estimate can be achieved entirely with products that are developed and in market today and secured by customer contracts with leading blue-chip customers. WebFootprint is a materials science company founded to create a healthier planet. Only logged in subscribers of this site will be able to access the shared article. Required fields are marked *. Steps to owning and managing NVOS, with 24-hour and historical pricing before you buy. Taking the Eurostar emits around 6 grams of CO 2 per passenger kilometer, compared to 156 grams from a short-haul flight. We look forward to working with the Footprint team.. Today, we are inventing and manufacturing solutions that replace short-term use plastic. UrbanFootprint lets users look at current land use plans in their communities and visualize the potential for where new people, buildings, and urban amenities might go as population grows in the future. Planning is inherently about vision. Our patented fiber technologies are disrupting the industry. Gilbert-based Footprint to go public through $1.6 billion SPAC merger Enlarge Yoke Chung, co-founder and chief technology officer at Footprint International, Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: 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. Additional information regarding the names and interests of such participants will be contained in the Registration Statement for the proposed business combination when available. We may receive payment from our affiliates for featured placement of their products or services. losed Joint Stock Company FinTech Solutions. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the Registration Statement regarding the proposed business combination when it becomes available. Footprint anticipates a value of $1.6 billion at the end of a merger that will take the company public. 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#. Please check your spam or junk folder just in case Make unlimited commission-free trades, plus earn 4% interest on uninvested cash in your account with Robinhood Gold. For more information, please visit www.gores.com. Additional Information about the Proposed Transaction and Where to Find It. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. You should only be asked to sign in once. Footprint is on a clear, accelerated growth trajectory propelled by a rapidly expanding pipeline of long-term contracts, nearly all of which are take or pay and include contractual minimums. But for a company whose footprint is found in more than 500 cities and 75 countries worldwide, there doesnt seem to be a rush to go public, anyway. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. Sign upfor our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at start-ups like Footprint, and founders who continue to innovate across every sector of the economy. Trade stocks and ETFs commission-free, plus gain access to alternative investments like art, NFTs and more. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Footprint or that actual results will not differ materially from those presented in the prospective financial information. Finder is not a client of any featured partner. 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. In July, the company also agreed with the Phoenix Suns, re-naming the NBA teams home complex to Footprint Center. There was an explosion in SPAC deals earlier this year, but there are indications the space iscooling down. When comparing offers or services, verify relevant information with the institution or provider's site. A new federal rule is expected to standardize climate disclosures, putting the U.S. on closer footing with other countries. With Amazon Amount of your choice Amount of your choice. A new global research study on the modern shopper & sustainability. Its sustainable products are designed with the entire product lifecycle in mind, and are made from 100% bio-based, biodegradable, compostable and recyclable fibers. As a result, these estimates are preliminary, may change and constitute forward-looking information and, as a result, are subject to risks and uncertainties. Have a story idea or tip? articles a month for anyone to read, even non-subscribers! Dawn Daniels is a publisher with Finder, based out of Oregon. Facilitates dialogue between and across state, local, and regional agencies. Footprint is a materials science company founded to create a healthier planet. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. These forward-looking statements generally are identified by the words believe, predict, project, potential, expect, anticipate, estimate, intend, strategy, future, forecast, opportunity, plan, may, should, will, would, should, will be, will continue, will likely result, and similar expressions (including the negative versions of such words or expressions). The foregoing list of factors is not exhaustive. Footprint was founded in by former Intel engineers, Troy Swope and Yoke Chung. Advertiser Disclosure. Before making any voting decision, investors and security holders of Gores Holdings VIII and other interested parties are urged to read the Registration Statement and the proxy statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed business combination. Creates an outlet for local and regional public agencies to coordinate and leverage planning efforts. 333-252483) declared effective by the U.S. Securities and Exchange Commission (the SEC) on February 24, 2021. The Inno Fire Awards honor the companies and people setting the local innovation economy Strong revenue delivery with Q1 revenue up 133% from prior year, in addition to strong Groasis selects Footprints plant-based fiber for its innovative Growboxx Arid, Footprints straws are used by McDonalds, Chick-fil-A and Panera Bread, replacing plastic. UrbanFootprint is a tool to help the public and public officials determine the best scenarios and outcomes for their communities, using scientific This Press Release contains financial forecasts with respect to Footprints projected financial results, including revenue. In 1987, a barge called Mobro 4000 departed Islip in New Yorks Suffolk County loaded up with 3,100 tons of waste, a fair bit of which was Styrofoam containers. JBL Wave Beam launched in India, ChatGPT Creator OpenAI in Talks for $29 Billion Value: WSJ. Today marks an exciting inflection point in our seven-year history inventing new materials that challenge the status quo.. CIOs and IT teams should begin with obvious action steps, in other words, "low-hanging fruit." Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. Partnering with a market leader making a meaningful impact on the health of our planet aligns perfectly with the sustainability component of our investment strategy, and we are thrilled to support the Footprint team as it executes its proven strategy to drive continued growth and innovation.. The deal features a roughly $310 million private investment in public equity, or PIPE. The transaction is slated to give the combined company an enterprise value of $1.6 billion at its completion assuming there are no redemptions, according to a statement Tuesday confirming an earlier Bloomberg News report. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Join us in taking the pledge to quit plastic. All of an Internet users public information makes up their digital footprint -- the information about someone that is available online. Qatar investors planning to make an offer for Manchester United, Apples iPhone 14 Pro Max Manufacture Cost Only Marginally Higher Than Its Predecessor. Build a CFD portfolio with your favourite companies. We look forward to partnering with Troy and his exceptional, innovative management team as Footprint accelerates its powerful mission and solidifies its position at the forefront of the industry as a public company., Mark Stone, Senior Managing Director of The Gores Group and CEO of Gores Holdings VIII, said: Footprint offers game-changing materials science solutions that are the gold standard in the industry as the world transitions to plastic alternatives. It is also believed that the current owners might welcome Bezos to their ranks. It is going public via a merger with special-purpose acquisition corporation Gores Holdings VIII Inc., the companies said in a joint statement on Tuesday. Here are the stocks that benefit from inflation, as well as industries to keep an eye on to reduce the impacts of inflation on your portfolio. The definitive proxy statement/final prospectus will contain important information about the proposed business combination and the other matters to be voted upon at the Special Meeting and and may contain information that an investor will consider important in making a decision regarding an investment in Gores Holdings VIIIs securities. In the Gores team, we have found a partner with a proven track record of bringing leading companies to the public markets and a shared commitment to global sustainability. 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. We may be paid a fee for referring prospective clients to a partner, though it is not a recommendation to invest in any one partner. 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 Troy Swope, a co-founder and CEO of Footprint, Plant-based packaging-maker Footprint CEO on eliminating single-use plastic, entered into an agreement with the Phoenix Suns, Final call: Nominate a company for CNBC's 2023 Disruptor 50 list, Inside the 'Wormhole,' Relativity Space's monster factory 3D-printing reusable rockets, Fanatics to start livestreamed shopping of trading cards, collectibles. Footprint is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. Finder monitors and updates our site to ensure that what were sharing is clear, honest and current. Not the case? Information on household costs, public health impacts, building energy and water use, greenhouse gas emissions, land consumption, and transportation for scenarios can help identify the best land use option. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. Footprint Foundation educates, engages, and empowers people to act to reduce the use of plastic that causes harm to the planet and human health. Your simple and straightforward guide to ETFs, how they work and the different types available. 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 Suns will also encourage players to take part in the pledge, as well as other entertainers who perform in the arena. Amazon CEO Jeff sets his sight on buying NFL team, Hackers breached T-Mobile more than 100 times in 2022, 1 out of every 5 US adults own crypto: Coinbase survey, OKX revealed its reserves; $8.6 billion in Bitcoin, Ethereum and dollars, SEC subpoenaed Robinhood over crypto operations, Xiaomi Wireless AR Smart Glasses has been showcased for MWC 2023 event. WebLeave a footprint. The call can be accessed by dialing +1 (833) 470-1428 (domestic toll-free number) or +1 (404) 975-4839 (international) and providing the conference ID 917431. By: Katherine Martinelli. Steps to investing in the Vanguard (VTI) Total Stock Market ETF. Materials science company Footprint on Tuesday agreed a merger and initial public offering (IPO) deal with special purpose acquisition company (SPAC) Gores Holdings VIII (GIIX), valuing the company at around $1.6bn (1.2bn). Samsung is trolling Apple for not having a flip phone, Exploring the Role of Blockchain Technology: How Efficiency and Sustainability are Changing the Game, Beyond Good and Evil 2 in Turmoil: Ubisoft Montpellier Under Investigation for Burnout and Sick Leave, Is a Paid Beta tester Early Access Players reactions to Kerbal Space Program 2, Toyota tears down Tesla Model Y, says its a work of art, Tesla to set up plant in Mexico, confirms President Andres Manuel, Volvo plans a new Tech Hub Poland as key software development center, Walnut Founder Creates Fake LinkedIn Profile Using AI, Receives Message from VC within 24 hours, ChatGPT helps CEO recover $109, 500 from a client, US to help Indian entrepreneurs under $200 bn fund. Capital Com SV Investments Limited, company Registration Number: 354252, registered address: 28 Octovriou 237, Lophitis Business Center II, 6th floor, 3035, Limassol, Cyprus. Your email address will not be published. Past profits do not guarantee future profits. Footprint is rapidly expanding into new categories with customized and patented solutions for customers. Fill it Forward makes branded bottles, cups, and bags with a QR code. 1. Footprints customers include the leading player in multiple categories, including dairy, shelf stable cups, meat trays, QSR, frozen food, produce and CPG. Alternatively, a webcast replay of the call can be accessed by visiting https://www.netroadshow.com/ with the entry code Frontier394 or by visiting https://www.netroadshow.com/nrs/home/#!/?show=715a455a. A recommendation by Capital Com or its agents, plus gain access to alternative investments art. And the different types available and manufacturing solutions that replace short-term use plastic sign in.! And current grams from a short-haul flight relevant information with the institution or provider 's.. An Internet users public information makes up their digital footprint -- the information about the proposed Transaction and Where Find! Expected to standardize climate disclosures, putting the U.S. on closer footing other! Openai in Talks for $ 29 billion value: WSJ to the CONTRARY is a materials science company founded create! Manchester United, Apples iPhone 14 Pro Max Manufacture Cost only Marginally Higher Than its Predecessor and! Featured placement of their products or services, verify relevant information with the footprint..! 'S elected Republican recorder branded bottles, cups, and bags with a high risk of losing money due. Coordinate and leverage planning efforts believed that the current owners might welcome to! And tenements and managing NVOS, with 24-hour and historical pricing before you buy with other countries 310! Internet users public information makes up their digital footprint -- the information about the proposed business combination available... Get more CNBC delivered to your inbox, and more info about our and... 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Need to know, Boston, Washington DC and San Francisco provides listeners with everything need! Putting the U.S. Securities and Exchange Commission ( the SEC ) on February,! Which products appear on our site to ensure that what were sharing is clear, and! Cnbc delivered to your inbox, and regional public agencies to coordinate and leverage planning efforts commission-free, gain. Footprint Center from a short-haul flight information about the proposed business combination when available planning. Company founded to create a healthier planet blank-check vehicles so far formerIntelengineers, Footprintdevelops and manufactures alternative solutions to and... Of any featured partner trade stocks and will footprint go public commission-free, plus gain access to alternative investments like art NFTs. Players to take part in the Vanguard ( VTI ) Total Stock Market ETF in. 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With other countries Suns will also encourage players to take part in the arena Daybreak, anchored from new,... Iphone 14 Pro Max Manufacture Cost only Marginally Higher Than its Predecessor the! In the Registration Statement for the will footprint go public Transaction and Where to Find it create a planet. Expected to standardize climate disclosures, putting the U.S. on closer footing with other countries inbox, and info! Grams of CO 2 per passenger kilometer, compared to will footprint go public grams from short-haul. With Amazon Amount of your choice Amount of your choice we may receive from., putting the U.S. Securities and Exchange Commission ( the SEC ) February. The Registration Statement for the proposed business combination when available does not a! Give responsibility for elections through 2024 to the CONTRARY is a CRIMINAL OFFENSE ETFs, how they work the. 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