Overview
Gores Holdings XI, Inc. (GHXI), a blank check company sponsored by an affiliate of The Gores Group, LLC, has closed its initial public offering consisting of 35,880,000 units priced at $10.00 per unit. The transaction generated gross proceeds of $358.8 million prior to the deduction of underwriting discounts, commissions and other offering-related expenses.
The total unit count in the offering reflects the full exercise of the underwriter’s over-allotment option, which added 4,680,000 units to the deal. Santander acted as the sole underwriter for the offering.
Trading and security structure
On June 23, 2026 the company’s units began trading on the Nasdaq Global Market under the ticker symbol GHXIU. Each unit comprises one Class A ordinary share and one-quarter of one warrant. The warrants are structured so that four warrant fractions combine into one whole warrant; each whole warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share.
The company indicated that once the constituent securities commence separate trading, the Class A ordinary shares and the warrants are expected to trade under the symbols GHXI and GHXIW, respectively.
Purpose and regulatory status
Gores Holdings XI was formed with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or a similar business combination with one or more businesses. The registration statement for the offering was declared effective on June 22, 2026 under Section 8(a) of the Securities Act of 1933.
Implications for markets
The transaction completes the company’s capital raise at the stated unit price and establishes an active listing for the units on a major U.S. exchange. The structure of the units and the attached warrants follows a common blank-check company issuance format in which public investors receive both equity exposure and partial warrant coverage.
Note: The gross proceeds figure provided above is before underwriting discounts, commissions and other expenses, which will reduce the net proceeds available to the company.