The footprint was founded in 2014 as a material science company using plant-based fiber technology. Footprint was named to the 2020 Fortune Change the World list in 2020, is a member of the World Economic Forums Global Innovators Community and was named a CNBC Disruptor 50 company in 2021. This Press Release contains financial forecasts with respect to Footprints projected financial results, including revenue. We have just sent you an email so you can verify your account. Gores Holdings VIII, Inc. completed its initial public offering in March 2021, raising approximately $345 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. With Amazon Amount of your choice Amount of your choice. It is going Please refer to our Risk Disclosure Statement. Multi-year agreement with Footprint supports SAMBAZONs sustainable packaging initiative. Footprint is a leading material science company providing plant-based fiber solutions with extended shelf life comparable to plastic, generating strong demand from Fortune 100 companies seeking alternative solutions to meet their sustainability goals. Additional Information about the Proposed Transaction and Where to Find It. If you shop on Amazon you can help support To date, affiliates of The Gores Group have announced or closed ten business combinations representing approximately $60 billion in transaction value which include: Hostess (Gores Holdings, Inc.), Verra Mobility (Gores Holdings II, Inc.), PAE (Gores Holdings III, Inc.), Luminar (Gores Metropoulos, Inc.), United Wholesale Mortgage (Gores Holdings IV, Inc.), Ardagh Metal Packaging (Gores Holdings V, Inc.), Matterport (Gores Holdings VI, Inc.), Sonder (pending; Gores Metropoulos II, Inc.), Polestar (pending; Gores Guggenheim) and Footprint (pending; Gores Holdings VIII, Inc.). Company will trade on the Nasdaq under FOOT ticker, Firms packaging helps customers reduce their carbon emissions. The transaction implies an enterprise value of approximately $1.6 billion for the combined company, representing approximately 3.2x of 2023 estimated revenue. "With corporations, regulators and consumers alike increasingly demanding high-quality, sustainable alternatives to single-use plastic, foam and other products, Footprint's 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 in a press release statement. Theyre in some of the countrys biggest supermarkets, including Walmart, Target, Costco, Whole Foods, Albertsons Safeway, Kroger, Frys, Aldi, Wegmans, and Trader Joes. 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. Footprint is scaling to meet the leading sustainability companies' plans to eliminate single-use plastics. 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. Footprints blue-chip customer base includes Conagra, General Mills, Gillette, JBS Foods, Kraft, McDonalds, Sweetgreen, Nestle, Upfield, Procter & Gamble, Quaker, Taylor Farms, Tyson, Unilever and Walmart. CheckThemOut. Stay up to date on the latest. Planning is inherently about vision. The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. Demand is closely linked to population and economic growth As economies and populations grow, demand for goods grows, as does the number of people with the desire and means to travel. Credit Suisse Securities (USA) and LionTree Advisors LLC also advised Footprint on the transaction. Management of Footprint and Gores Holdings VIII will host an investor conference call on Tuesday, December 14, 2021 at 9:00 am EST to discuss the proposed business combination. The balance sheet strength of the combined company is anticipated to enable Footprint to expand our operations and geographic reach as we scale our technology to meet record customer demand., Alec Gores, Chairman and CEO of The Gores Group and Chairman of Gores Holdings VIII, said: Footprint is a true pioneer and disruptor in sustainability, delivering leading technology and solutions that are revolutionizing the use of plant-based materials. The 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). Deutsche Bank Securities Inc. is acting as lead financial advisor and lead capital markets advisor to Gores Holdings VIII and as a joint placement agent on the PIPE investment. The deal is expected to value Footprint, ranked No. Everything we know about the Neuraxis IPO, plus information on how to buy in. Footprint International Holdco Inc., a maker of coating technologies that allow plant-based materials to compete with traditional plastic-based materials. The footprint is expected to begin trading on the Nasdaq in the first half of 2022 under the ticker symbol FOOT, Your email address will not be published. For more information, please visit www.gores.com. Founded in 1987, The Gores Group is a global investment firm focused on partnering with differentiated businesses that can benefit from the firms extensive industry knowledge and decades long experience. Buying an IPO is as simple as buying any other stock, but not every trading platform offers IPO stocks. Footprint, an Arizona-based materials science technology company known for its plant-based packaging, will make its market debut by merging with blank-check firm Gores Holdings VIII. Inclusion of the prospective financial information in this Press Release should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. Footprint International, a maker of biodegradable products aimed at eliminating single-use plastics, is reportedly in talks to go public via merger with a Capital Com is an execution-only service provider. What you need to know about investing in the leading indicator for the overall US stock market. The material provided on this website is for information purposes only and should not be understood as an investment advice. These projections should not be relied upon as being necessarily indicative of future results. 45 on this year's CNBC Disruptor 50 list, at $1.6 billion following the SPAC merger's completion. Were helping retailers, CPGs, and food companies transition to plant-based solutions, reduce CO2 emissions, cut landfill waste, and reach sustainability goals. 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. 1. You know, whenever anybody asks Elon Musk how he learned to build rockets, he says, I read books.. And the company is collaborating with major brands, including newly publicSweetgreen, McDonalds, Kraft Heinz, Tyson Foods,Beyond Meat, Chick-fil-A, Dunkin, Panera Bread, and True Food Kitchen. here to register, Not for publication, email or dissemination, Shannon OLeary on diversity and steering clear of peak stupid, Ares backs BlueCove; Thoma Bravo closes Coupa deal; plus Black History Month interviews, Red Arts Chad Strader: Diversity is good for business; US PE firms vie for public European names, PE pioneer Thomas H. Lee passes away; ArcLights Great River Hydro exit plus evolution of infrastructure investments, DCP Capital to buy stake in Chinese business of Jamieson Wellness, Peak Rock-backed Hospeco Brands Group acquires Innocore. Don't have an account? While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. How many planets does it take to support your lifestyle? A Silver Alert was issued Tuesday evening for a 80-year-old man with a medical condition last seen in Queen Creek. Founded in 2014 by Troy Swope and Yoke Chung (CTO), Footprint is developing a portfolio of technologies and plant-based solutions that perform at parity with plastics in all key criteria, delivering sustainability and improving performance at a price point that is comparable to plastic solutions. Provides an effective tool for decision makers, public agency staff, and the public to identify land use planning options. After the deal closes in the first half of 2022, the company based in Gilbert, Arizona will list on the NASDAQ under the FOOT ticker. We're changing the world. Get this delivered to your inbox, and more info about our products and services. Footprint was founded in by former Intel engineers, Troy Swope and Yoke Chung. 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. Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC and LionTree Advisors LLC are acting as joint placement agents on the PIPE investment. As Schifter says, people tend to forget just how large a sector education is in the United States, with nearly 100,000 public K12 schools occupying 2 million acres of land and producing 53,000 tons of food waste. Looking to invest in tech? Everyone knows that plastic is a major problem, thanks to If the deal is approved, any shares of GIIX will become shares in Footprint, with the ticker symbol changing to FOOT. Visit 10Cric cricket betting and get the best odds on all major cricket events! Contact us for more information. 333-252483) declared effective by the U.S. Securities and Exchange Commission (the SEC) on February 24, 2021. The proceeds also consist of an oversubscribed private investment of $460m. Facilitates dialogue between and across state, local, and regional agencies. Actual results may differ as a result of the completion of the Footprints financial reporting period closing procedures, review adjustments and other developments that may arise between now and the time such financial information for the period is finalized. 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. Finder.com is an independent comparison platform and The difference between trading assets and CFDs. PHOENIX Footprint, the Gilbert company with naming rights to the Phoenix Suns arena, announced Tuesday that its agreed to become a publicly traded 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. Gores is among Wall Streets most prolific SPAC dealmakers. Filmed at key heritage sites all across Hong Kong, including Tai Kwun, Tang Tsing Lok Ancestral Hall and Kowloon Walled City Park, this documentary showcases Hong Kong's multicultural history. Make unlimited commission-free trades, plus earn 4% interest on uninvested cash in your account with Robinhood Gold. Sign up for free newsletters and get more CNBC delivered to your inbox. With Footprints current customers demanding more product and new customers seeking out Footprint as its sustainable innovation partner, Footprint has over $500 million of annual revenue contracted by its customers and is already more than fully committed on its 2023 estimated revenue. Empowers local communities to understand the relationships between what gets built and the health, environment, and economic impacts of development. Footprints customers include the leading player in multiple categories, including dairy, shelf stable cups, meat trays, QSR, frozen food, produce and CPG. While also working with the sports team to eliminate single-use plastic and test new technologies at their facility. 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. Forward-looking statements speak only as of the date they are made. Gores Holdings VIII, Inc.s strategy is to identify, acquire and, after the initial business combination, to build a company in an industry or sector that complements the experience of its management team and can benefit from their operational expertise. Police are searching for an armed man after receiving reports of shots fired in Queen Creek, temporarily locking down a school and placing residents on alert. Every scan unlocks a $0.02 $10.00 donation, which is funded by product sales and corporate partnerships. Required fields are marked *. 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). Gores Holdings VIII, Inc. (Nasdaq: GIIXU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores. The deal, which is subject to the approval of Gores Holdings VIIIs stockholders, is expected to close in the first half next year. 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. 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