Were US-based materials science technology company Footprint International Holdco has agreed to merge with Gores Holdings VIII, to become a public traded company. Footprint offers game-changing materials science solutions that are the gold standard in the industry as the world transitions to plastic alternatives, Mark Stone, The Gores Group senior managing director and Gores Holdings VIII CEO, said in the release. Provides an effective tool for decision makers, public agency staff, and the public to identify land use planning options. Materials science company Footprint Inc has agreed to go public through a merger with a blank-check firm led by billionaire Alec Gores, in a deal that values the We have just sent you an email so you can verify your account. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Multi-year agreement with Footprint supports SAMBAZONs sustainable packaging initiative. Looking to invest in tech? Why? 333-252483) declared effective by the U.S. Securities and Exchange Commission (the SEC) on February 24, 2021. Have a story idea or tip? We may also receive compensation if you click on certain links posted on our site. Finder makes money from featured partners, but editorial opinions are our own. Creates a common platform for stakeholders to depict a wide range of land use and planning concepts and scenarios. Your simple and straightforward guide to ETFs, how they work and the different types available. Planning is inherently about vision. Footprint to go public via merger with Gores-backed SPAC Footprint, a global materials science technology company focused on sustainable solutions, has 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 WebAPTA American Public Transportation Association ASIF activitystructureintensityfuel BMRC Bangalore Metro Rail Corporation means to assess the carbon footprint of these transport projects, the EKB does not suggest diluting the development agenda in Asia. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. The deal is expected to value Footprint, ranked No. 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. Jun 1, 2022 6:00AM EDT. 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. 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. Past profits do not guarantee future profits. 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. Today, we are inventing and manufacturing solutions that replace short-term use plastic. Today marks an exciting inflection point in our seven-year history inventing new materials that challenge the status quo. Here's what we know about the IPO and how to buy Footprint stock when it's available. The resulting company is projected to have a total enterprise value of $1.6 billion, according to the release. The company, which entered a multiyear naming rights deal with the Suns for Footprint Center in downtown Phoenix in July, will merge with Gores Holdings VIII. 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. Footprint is rapidly expanding into new categories with customized and patented solutions for customers. Join us in taking the pledge to quit plastic. Begin with the easier tasks. Heres how to buy shares in the major tech companies, known as FAANG stocks. This Press Release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Gores Holdings VIII, Footprint or the combined company, nor shall there be any sale of any such 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 such state or jurisdiction. Authors of the study go on to state that many consumers are unaware, misinformed or only have a rudimentary understanding of the carbon impact of their food purchasing habits. Required fields are marked *. Biote Holdings, a provider of hormone-replacement therapies, is going public through a merger with blank-check company Haymaker Acquisition Corp. III. As a result, these estimates are preliminary, may change and constitute forward-looking information and, as a result, are subject to risks and uncertainties. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. Footprint and the Suns are aiming to get fans involved, from videos talking about sustainability and how to manage their trash on the giant scoreboard during games, to encouraging people to sign up for a climate pledge initiative to cut plastics from their lives. 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. If you rely on the information on this page then you do so entirely on your own risk. Contact us for more information. 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. Footprint, a materials-science technology company seeking to eliminate single-use plastic, agreed to merge with Gores Holdings VIII Inc., a special purpose acquisition company led by billionaire Alec Gores. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal, S&P 500 Wraps Up Turbulent Month Near Lows of Day: Markets Wrap, Cash Is Paying More Than Traditional Stock-Bond Portfolio. Current Footprint equity holders will retain approximately 62% ownership in Footprint and roll 100% of their equity interests into the pro forma company. Footprint has been named a winner in the 2023 BIG Innovation Awards presented by the Business Intelligence Group. Finder is not a client of any featured partner. 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. Creating consensus around the big picture takes a lot of people, with a lot of ideas, working together. This deal values the combined entity at about $1.6 billion including debt, the companies said on Tuesday. Investors and security holders will also be able to obtain free copies of the definitive proxy statement/final prospectus and all other relevant documents filed or that will be filed with the SEC by Gores Holdings VIII through the website maintained by the SEC at www.sec.gov, or by directing a request to Gores Holdings VIII, Inc., 6260 Lookout Road, Boulder, CO 80301, attention: Jennifer Kwon Chou or by contacting Morrow Sodali LLC, Gores Holdings VIIIs proxy solicitor, for help, toll-free at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400). Footprint is rapidly expanding into new categories with customized and patented solutions for customers. 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. 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. 2023 CNBC LLC. 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. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. 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. There may be additional risks that neither Gores Holdings VIII or Footprint presently know or that Gores Holdings VIII or Footprint currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Footprint International Holdco Inc., a maker of coating technologies that allow plant-based materials to compete with traditional plastic-based materials. Footprints products have already led to a global Advertiser Disclosure. Not the case? 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, co-founder and CEO of Footprint Troy Swope said in a press release. A transformative center for champions of a Healthy Planet & Healthy People. October 9, 2018. Here are some steps that can help. 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. Users can make planning decisions based upon possible outcomes and identify future patterns of development for their community. Footprint, founded in 2014, offers plant-based solutions to help companies cut carbon emissions and landfill waste. While adults may find that sports gambling is a way to enhance the experience with more than just fandom on the line, it can be a dangerous proposition if children get involved in the activity. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. UrbanFootprint is a tool to help the public and public officials determine the best scenarios and outcomes for their communities, using scientific Globally, total transport activity is expected to more than double by 2050 compared with 2015 under the trajectory reflecting current efforts. Fill it Forward makes branded bottles, cups, and bags with a QR code. 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. The size of the potential loss is limited to the funds held by us for and on your behalf, in relation to your trading account. All of an Internet users public information makes up their digital footprint -- the information about someone that is available online. The deal, which is subject to the approval of Gores Holdings VIIIs stockholders, is expected to close in the first half next year. 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. With corporations, regulators and consumers alike increasingly demanding high-quality, sustainable alternatives to single-use plastic, foam and other products. Creates an outlet for local and regional public agencies to coordinate and leverage planning efforts. Qatar investors planning to make an offer for Manchester United, Apples iPhone 14 Pro Max Manufacture Cost Only Marginally Higher Than Its Predecessor. Our mission is to create a healthier planet and step one is to design, develop and manufacture plant-based fiber solutions as an alternative to single-use plastics, Troy Swope, Footprint co-founder and CEO, said in a press release. It is also believed that the current owners might welcome Bezos to their ranks. Get this delivered to your inbox, and more info about our products and services. The company, ranked No. 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. 9 minutes. While also working with the sports team to eliminate single-use plastic and test new technologies at their facility. Footprint is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. Other fees apply. With Footprint, we have been impressed by the companys innovative culture and strong traction with customers based on their unique plant-based solutions produced at compelling economics. Footprint anticipates a value of $1.6 billion at the end of a merger that will take the company public. Current-day land use planning has always relied on process and a variety of tools and maps to show impacts of land use development decisions of future growth. A range of premier consumer brands, representing the largest and most significant food, beverage and consumer products companies globally and primarily Fortune 100 companies, have chosen Footprint as their innovation partner. 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. Upon closing of the proposed transaction, the combined company will be named Footprint International, Inc. and is expected to be listed on NASDAQ under the ticker symbol FOOT. The combined company will be led by Troy Swope, Co-Founder and Chief Executive Officer of Footprint, and is expected to have a pro forma enterprise value of $1.6 billion at the closing of the proposed transaction. The company employs more than 2,500 employees, with operations in the U.S., Mexicali, Europe, and Asia. Increasing consumer and corporate demand for sustainable alternatives to plastic have created a tremendous, growing market opportunity that is expected to continue to fuel Footprints rapid growth and customer traction. Our plant-based fiber solutions are designed to be digestible by the earth. Everything we know about the SONDORS IPO, plus information on how to buy in. Steps to investing in the Vanguard (VTI) Total Stock Market ETF. Taking a domestic flight emits 255 grams CO 2 e per km * 500 km = 127.5 kg CO 2 e. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. Without a clear picture of an organization's digital carbon footprint, IT leaders may be understandably confused about how to start an initiative. Dawn Daniels is a publisher with Finder, based out of Oregon. Pass it along to the KTAR News team here. Fifty percent of Americans and 90% of people at least 50 years old have some level of degenerative disc disease. By: Katherine Martinelli. It takes champions throughout the ecosystem to eliminate single-use plastic. it's been delivered there. Her background includes editing more than 40 published books, including books on personal finance and meditation. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. Troy Swope, Co-Founder and CEO of Footprint, said: Our mission is to create a healthier planet and step one is to design, develop and manufacture plant-based fiber solutions as an alternative to single-use plastics. SPACs are Facilitates dialogue between and across state, local, and regional agencies. Information on this page is for educational purposes only. Got a confidential news tip? 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 WebLeave a footprint. WebFootprint is a materials science company founded to create a healthier planet. 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. Footprints products have already led to a global redirection of 61 million pounds of plastic waste from entering the air, earth, and water working with leading global consumer brands. Please check your spam or junk folder just in case articles a month for anyone to read, even non-subscribers! You know, whenever anybody asks Elon Musk how he learned to build rockets, he says, I read books.. Phoenix Suns, Mercury rename arena Footprint Center, Gilbert recycling company Footprint wins challenge to reinvent cups, East Valley company aims to replace plastic straws with paper products, Silver Alert issued for 80-year-old man with medical condition last seen in Queen Creek, 2nd teenage suspect arrested in fatal Phoenix drive-by shooting, Mesa police seeking 27-year-old woman wanted in murder case, Arizona Gov. We're changing the world. Footprint is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. Complete an application with your details. When comparing offers or services, verify relevant information with the institution or provider's site. E*TRADE offers commission-free stocks, access to mutual funds and advanced trading tools. A simple guide to buying stocks in your favorite European soccer team. And with its big carbon footprint, those solutions begin in schools themselves. Bloomberg News reported in August that Footprint was in talks to go public through a deal with a Gores SPAC at a valuation of as much as $3 billion. 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. Footprint offers plant-based packaging solutions Photo: Footprint Content Materials science company Footprint on Tuesday agreed a merger and initial public You have the option of making a monthly donation. Hear the latest economic, business and market news, as well as global, national, and local news. The merger is expected to take place in the first half of 2022. Register now to read this article and more for free. 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. It has more than $500 million of annual revenue contracted with customers such as Kraft, McDonalds, Procter & Gamble and Walmart, according to the release. Footprint was founded in 2014 by Swope and Yoke Chung, former Intel engineers. 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Global Business and Financial News, Stock Quotes, and Market Data and Analysis. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. 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. The deal features a roughly $310 million private investment in public equity, or PIPE. Gores Holdings VIII, Footprint and certain of their respective directors, executive officers may be deemed participants in the solicitation of proxies from Gores Holdings VIIIs stockholders with respect to the proposed business combination. WebWhat is your Ecological Footprint? In July, the company also agreed with the Phoenix Suns, re-naming the NBA teams home complex to Footprint Center. Everything we know about the Brera IPO, plus information on how to buy in. What communities wish to see in their neighborhoods, how they choose to go about their day to day routine, and what it takes to get there, literally and figuratively. Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC and LionTree Advisors LLC are acting as joint placement agents on the PIPE investment. 45 on this year's CNBC Disruptor 50 list, is expected to begin trading on the Nasdaq in the first half of 2022 under ticker symbol "FOOT.". 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Make unlimited commission-free trades, plus earn 4% interest on uninvested cash in your account with Robinhood Gold. Footprint is scaling to meet the leading sustainability companies' plans to eliminate single-use plastics. 32 East 31st Street, 4th Floor, Consider opening a brokerage account today so you're ready as soon as the stock hits the market. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Looking at the performance of similar companies can help you decide if now is a good time to buy Footprint stock. Buying an IPO is as simple as buying any other stock, but not every trading platform offers IPO stocks. 2023 Techstory Media Pvt Ltd Contact : info@techstory.in. Take this free quiz to find out! Everything we know about the Neuraxis IPO, plus information on how to buy in. A new global research study on the modern shopper & sustainability. 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. 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.