Item 8.01 Other Events.
On January 22, 2021, Gores Metropoulos II, Inc. (the "Company") consummated its
initial public offering (the "IPO") of 45,000,000 units (the "Units"), including
the issuance of 5,000,000 Units as a result of the underwriters' partial
exercise of their over-allotment option. Each Unit consists of one share of
Class A common stock of the Company, par value $0.0001 per share ("Class A
Common Stock"), and one-fifth of one warrant of the Company ("Warrant"), each
whole Warrant entitling the holder thereof to purchase one share of Class A
Common Stock at an exercise price of $11.50 per share. The Units were sold at a
price of $10.00 per unit, generating gross proceeds to the Company of
$450,000,000.
On January 22, 2021, simultaneously with the consummation of the IPO, the
Company completed the private sale (the "Private Placement") of 5,500,000
warrants (the "Private Placement Warrants") at a purchase price of $2.00 per
Private Placement Warrant, to the Company's sponsor, Gores Metropoulos Sponsor
II, LLC, generating gross proceeds to the Company of approximately $11,000,000.
A total of $450,000,000, comprised of $441,000,000 of the proceeds from the IPO,
including approximately $15,750,000 of the underwriters' deferred discount, and
$9,000,000 of the proceeds of the sale of the Private Placement Warrants, were
placed in a trust account maintained by Computershare Trust Company, N.A.,
acting as trustee. An audited balance sheet as of January 22, 2021 reflecting
receipt of the proceeds upon consummation of the IPO and the Private Placement
has been issued by the Company and is included as Exhibit 99.1 to this Current
Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Form 8-K:
Exhibit
No. Description of Exhibits
99.1 Audited Balance Sheet, as of January 22, 2021.
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