(Note: This is the seventh blank-check company or SPAC established with dealmaker and billionaire Alec Gores at the helm. He is the chairman of Gores Holdings VII, Inc. Alec Gores is the founder of The Gores Group, a private equity firm. Some of his headline-making deals include a 2016 transaction in which he bought part of Hostess Brands, the maker of Twinkies.)

From the prospectus:  “We intend to capitalize on the ability of our management team to identify, acquire and manage a business that can benefit from our operational expertise, as members of our management team have done in diverse sectors, including industrials, technology, telecommunications, media and entertainment, business services, healthcare and consumer products. This operationally oriented investment approach has served The Gores Group well since its founding in 1987.”

(Note: Gores Holdings VII priced its upsized SPAC IPO on Feb. 22, 2021: 48 million units, up from 40 million, at $10 each to raise $480 million.)