Matterport To Go Public Via Merger With Gores Holdings VI – Quick Facts

Spatial data company Matterport, Inc. and Gores Holdings VI (GHVI, GHVIU, and GHVIW), a publicly listed special purpose acquisition company sponsored by an affiliate of Gores Group, LLC, said Monday they have agreed for a business combination that will result in Matterport becoming a publicly listed company.

Upon closing of the proposed transaction, the combined company will be named “Matterport, Inc.” and intends to remain listed on NASDAQ under the ticker symbol “MTTR.”

The combined company will have an implied pro forma enterprise value of about $2.3 billion and an equity value of about $2.9 billion at closing.

All existing Matterport stockholders will roll the entirety of their equity holdings into the combined company and are expected to hold about 75 percent of the issued and outstanding shares of common stock of the combined company immediately following the closing.

Founded in 2011, Matterport’s spatial computing platform turns any physical space into a 3D digital twin. The company has created a spatial data library with more than 10 billion square feet of space and growing.

Millions of buildings in more than 150 countries have been digitized, from homes, office spaces, museums and schools to factories, hospitals, and retail stores, according to the company.

Matterport monetizes its data primarily under a recurring revenue Software as a Services or SaaS model and grew its subscriber base by more than 500 percent in 2020.

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