LOS ANGELES, Dec. 17, 2020 /PRNewswire/ -- Gores Holdings IV,
Inc. (NASDAQ: GHIV, GHIVU and GHIVW) (the "Company"), a special
purpose acquisition company sponsored by an affiliate of The Gores
Group, LLC, today announced that the Company has filed a definitive
proxy statement with the SEC in connection with the previously
announced business combination with United Wholesale Mortgage, LLC
("UWM") (the "Business Combination"). The Company will hold a
Special Meeting in lieu of the Company's 2021 Annual Meeting of
Stockholders via live webcast at
https://www.cstproxy.com/goresholdingsiv/2021, on January 20, 2021 at 9:00
a.m. Eastern Time (the "Special Meeting"). The
definitive proxy statement contains important information about the
Business Combination and the other matters to be voted upon at the
Special Meeting.
The filing of the definitive proxy statement is an important
step in UWM becoming a publicly traded company, with the goal of
being listed on the New York Stock Exchange under the symbol
"UWMC." The Business Combination is expected to close shortly
after the Special Meeting, subject to receipt of regulatory and
stockholder approvals, and other customary closing conditions.
Notice of the Special Meeting, together with the definitive
proxy statement relating to the Special Meeting, will be mailed to
stockholders of record as of the close of business on December 15, 2020 (the "Record Date").
About Gores Holdings IV, Inc.
Gores Holdings IV is a special purpose acquisition company
sponsored by an affiliate of The Gores Group for the purpose of
effecting a merger, acquisition, or similar business combination.
Gores Holdings IV completed its initial public offering in
January 2020, raising approximately
$425 million in cash proceeds. Prior
business combinations for special purpose acquisition companies
sponsored by affiliates of The Gores Group include: Hostess (Gores
Holdings, Inc.), Verra Mobility (Gores Holdings II, Inc.), PAE
(Gores Holdings III, Inc.) and Luminar (Gores Metropoulos, Inc.).
Upon the closing of the Business Combination, Gores Holdings IV
will change its name to UWM Corporation.
About The Gores Group, LLC
Founded in 1987 by Alec Gores,
The Gores Group is a global investment firm focused on partnering
with differentiated businesses that can benefit from the firm's
extensive industry knowledge and decades long experience. Gores
Holdings IV and The Gores Group are separate entities with separate
management, although there is overlap in size and industry of
target acquisition and personnel involved. For more information,
please visit www.gores.com.
About United Wholesale Mortgage
Headquartered in Pontiac,
Michigan, United Wholesale Mortgage is the #1 wholesale
lender in the nation five years in a row. UWM provides Independent
Mortgage Advisors, across all 50 states and the District of Columbia, with a unique set of
innovative technologically-driven tools and a value proposition
that enables them to offer borrowers compelling financing
alternatives. UWM's exceptional teamwork and laser-like focus on
delivering innovative mortgage solutions are driving the company's
ongoing growth and its leadership position as the foremost advocate
for mortgage brokers.
Additional Information about the Business Combination and
Where to Find It
Gores Holdings IV has filed a definitive proxy statement with
the SEC in connection with the Business Combination and will mail
the definitive proxy statement and other relevant documents to its
stockholders as of the Record Date. The definitive proxy statement
contains important information about the proposed Business
Combination and the other matters to be voted upon at the Special
Meeting. Gores Holdings IV stockholders and other interested
persons are advised to read the definitive proxy statement, as well
as any amendments or supplements thereto, in connection with Gores
Holdings IV's solicitation of proxies for the Special Meeting
because they contain and will contain important information about
the Business Combination. Gores Holdings IV stockholders can also
obtain copies of the definitive proxy statement, without charge, at
the SEC's website at www.sec.gov or by directing a
request to: Gores Holdings IV, Inc., 9800 Wilshire Boulevard,
Beverly Hills, CA 90212,
attention: Jennifer Kwon Chou
(jchou@gores.com).
Participants in Solicitation
Gores Holdings IV, UWM and their respective directors and
officers may be deemed participants in the solicitation of proxies
of Gores Holdings IV stockholders in connection with the Business
Combination. Gores Holdings IV stockholders and other interested
persons may obtain, without charge, more detailed information
regarding the directors and officers of Gores Holdings IV in Gores
Holdings IV's Annual Report on Form 10-K for the fiscal year ended
December 31, 2019, which was filed
with the SEC on March 27, 2020.
Information regarding the persons who may, under SEC rules, be
deemed participants in the solicitation of proxies to Gores
Holdings IV stockholders in connection with the Business
Combination and other matters to be voted upon at the Special
Meeting is set forth in the definitive proxy statement for the
Business Combination. Additional information regarding the
interests of participants in the solicitation of proxies in
connection with the Business Combination is included in the
definitive proxy statement that Gores Holdings IV filed with the
SEC.
Forward Looking Statements
This communication may contain a number of "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include information
concerning Gores Holdings IV's or UWM's possible or assumed future
results of operations, business strategies, debt levels,
competitive position, industry environment, potential growth
opportunities and the effects of regulation, including whether this
transaction will generate returns for stockholders. These
forward-looking statements are based on Gores Holdings IV's or
UWM's management's current expectations, estimates, projections and
beliefs, as well as a number of assumptions concerning future
events. When used in this communication, the words "estimates,"
"projected," "expects," "anticipates," "forecasts," "plans,"
"intends," "believes," "seeks," "may," "will," "should," "future,"
"propose" and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside UWM's management's control, that could cause
actual results to differ materially from the results discussed in
the forward-looking statements. With respect to forward looking
statements relating to the consummation of the proposed business
combination, these risks include, but are not limited to: (a) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the Business Combination Agreement,
the failure to obtain approval of the stockholders of the Company
or the failure to receive required regulatory approvals; (b) the
ability to meet applicable listing standards; (c) UWM's reliance on
its warehouse facilities and the risk of a decrease in the value of
the collateral underlying certain of its facilities causing an
unanticipated margin call; (d) UWM's ability to sell loans in the
secondary market; (e) UWM's dependence on the government sponsored
entities such as Fannie Mae and Freddie Mac; (f) the risk that an
increase in the value of the MBS UWM sells in forward markets to
hedge its pipeline may result in an unanticipated margin call; (g)
UWM's inability to continue to grow, or to effectively manage the
growth of, its loan origination volume; (h) UWM's ability to
continue to attract and retain its Independent Mortgage Advisor
relationships; and (i) other risks and uncertainties indicated from
time to time in the definitive proxy statement filed by Gores
Holdings IV in connection with Gores Holdings IV's solicitation of
proxies for the Special Meeting, including those under "Risk
Factors" therein, and other documents filed or to be filed with the
SEC by Gores Holdings IV. You are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made.
Forward-looking statements included in this communication speak
only as of the date of this communication. Except as required by
law, neither Gores Holdings IV nor UWM undertakes any obligation to
update or revise its forward-looking statements to reflect events
or circumstances after the date of this release. Additional risks
and uncertainties are identified and discussed in Gores Holdings
IV's reports filed with the SEC and available at the SEC's website
at www.sec.gov.
Disclaimer
This communication is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities pursuant to the Business Combination or
otherwise, nor shall there be any sale of securities in any
jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act.
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SOURCE Gores Holdings IV, Inc.