Gores Holdings IX stockholders approve extension to Dec 2024; $492M redeemed

Gores Holdings IX, Inc.

Extension approved from Jan 14 to Dec 6, 2024, with 44.97M for, 6.01M against.
Redemptions of 46.47M shares at ~$10.59/share total ~$492.3M, leaving $63.8M in trust.
Only ~6.03M Class A shares remain outstanding after redemptions.
Trust account to be liquidated to cash to avoid investment company status; minimal interest going forward.
Cash in trust reduced from $492.3M to $63.8M, significantly limiting ability to complete a business combination.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Gores Holdings IX, Inc.: Extended the deadline to consummate a business combination from January 14, 2024 to December 6, 2024 (effective 2024-01-09).

Change: charter amendment
Effective: 2024-01-09

Exact text from the filing

stockholders of the Company approved a proposal to amend and restate the Company’s amended and restated certificate of incorporation (the “Extension Amendment”) to extend the date by which the Company must consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses from January 14, 2024 to December 6, 2024

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Gores Holdings IX, Inc. shareholders approved The Extension Amendment Proposal – to amend and restate the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate a business combination from January 14, 2024 to December 6, 2024.

Proposal: charter amendment
Outcome: passed

Exact text from the filing

For Against Abstain Broker Non-Votes 44,968,191 6,007,018 0 0

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-24-006050

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