Footprint to go public via a SPAC merger with Gores Holdings VIII in a $1.6bn deal.

Footprint, an operator of a global materials science sustainable technology company, agreed to go public via a SPAC merger with Gores Holdings VIII in a $1.6bn deal. The SPAC is backed by The Gores Group. Koch Strategic Platform also participated in the deal. “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. Today marks an exciting inflection point in our seven-year history inventing new materials that challenge the status quo. 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. 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," Troy Swope, Footprint Co-Founder and CEO.