Gores Metropoulos, Inc. Completes $400 Million Initial Public Offering

Gores Metropoulos, Inc. (the Company), a blank check company 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 Company is a partnership sponsored by an affiliate of The Gores Group, LLC, a global investment firm founded in 1987 by Alec Gores, and by an affiliate of Dean Metropoulos, a veteran investor in the food and consumer space. 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 Companys units began trading on the NASDAQ Capital Market under the ticker symbol GMHIU on February 1, 2019. Each unit consists of one share of the Companys Class A common stock and one-third of one warrant. Each whole warrant entitles the holder thereof to purchase one share of the Companys Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NASDAQ Capital Market under the ticker symbols GMHI and GMHIW, respectively.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC are serving as the representatives of the underwriters for the offering. The offering was made only by means of a prospectus, copies of which may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email: [email protected]; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven Madison Avenue, New York, New York 10010, telephone 800-221-1037 or email: [email protected]; or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 866-471-2526 or email: [email protected].

A registration statement relating to the securities became effective on January 28, 2019, in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This press release contains statements that constitute forward-looking statements, including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Companys registration statement and preliminary prospectus for the Companys offering filed with the Securities and Exchange Commission (SEC). Copies are available on the SECs website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Jennifer Kwon Chou
Managing Director, The Gores Group
[email protected]