GRSV - Matterport to be listed through Gores SPAC business combination

Matterport, spatial data company leading the digital transformation of the built world, inked a definitive agreement with SPAC, Gores Holding VI (GRSV) for becoming public and to be listed on Nasdaq undet symbol, 'MTTR'.On closure, the combined company is estimated to have an implied pro forma enterprise value of ~$2.3B and an equity value of ~$2.9B.Existing Matterport stockholders will roll their equity holdings into the combined company and are expected to hold ~75% of the issued and outstanding shares of common stock of the combined company.Matterport monetizes its data primarily under a recurring revenue Software as a Services model and grew its subscriber base by more than 500% in 2020.In 2020, revenue surged 87% Y/Y to $85.9M while subscriber lifetime value-to-customer acquisition cost ratio was up 4.7x to 11.7.Gores Holdings VI cash balance of ~$345M and ~$295M in PIPE proceeds will be used to support continued growth of the combined

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Matterport to be listed through Gores SPAC business combination