Form 4: Moore Capital Management and Affiliates Report Redemption of Gores Holdings IX Shares

Moore Capital Management and related entities report the redemption of 1,000,000 Class A common shares of Gores Holdings IX, Inc. at a price of $10.1536 per share.

Summary

• Moore Capital Management, LP, along with related entities MMF LT, LLC, Moore Global Investments, LLC, Moore Capital Advisors, L.L.C., and Louis M. Bacon, filed a Form 4.
• The filing reports the redemption of 1,000,000 Class A common shares of Gores Holdings IX, Inc. previously held by MMF LT, LLC.
• The redemption occurred on December 6, 2024, at a price of $10.1536 per share.
• The shares were redeemed as part of Gores Holdings IX, Inc.'s redemption of all outstanding Class A common stock from its initial public offering.
• The reporting entities disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to a share redemption, which is neither positive nor negative in itself. It reflects a standard process for a SPAC that did not complete a merger.

Industry Context

This filing is a standard regulatory disclosure related to the redemption of shares in a special purpose acquisition company (SPAC).

Comparison to Industry Standards

• The redemption of shares at a set price is a common occurrence for SPACs that do not complete a merger within a specified timeframe.
• The price of $10.1536 is typical for SPAC redemptions, often reflecting the initial offering price plus accrued interest in a trust account.
• Other SPACs such as Churchill Capital Corp V and Social Capital Hedosophia Holdings Corp V have also undergone similar redemption processes when they did not complete a merger.

Stakeholder Impact

• Shareholders who held Class A common stock received $10.1536 per share as part of the redemption.
• The redemption marks the end of Gores Holdings IX, Inc.'s lifecycle as a SPAC.

Key Dates

Keywords

Form 4, Gores Holdings IX, Redemption, Moore Capital Management, Class A Common Stock, Beneficial Ownership, Securities Exchange Act