Gores Holdings stock soars after SPAC's deal to take United Wholesale Mortgage public

Dow Jones

Sep 23, 2020

MW Gores Holdings stock soars after SPAC's deal to take United Wholesale Mortgage public

Shares of Gores Holdings IV Inc. (GHIV) shot up 16% in premarket trading Wednesday, after the special purpose acquisition company (SPAC), also known as a blank-check company, announced it will take United Wholesale Mortgage public in deal that values the mortgage lender at $16.1 billion. The deal includes $425 million of cash from Gores and a $500 million private placement, which is anchored by "top tier" institutional investors. After the deal, the company will operate under the United Wholesale Mortgage $(UWM)$ name, and the stock will be listed on the Nasdaq under the ticker symbol "UWMC." Michigan-based United Wholesale said it is the largest wholesale mortgage originator in the U.S., and the companies boast that UWM's valuation makes the deal the largest transaction by a SPAC to date. Gores's stock, which went public in March, has gained 7.9% over the past three months through Tuesday, while the Renaissance IPO ETF $(IPO.UK)$ has run up 23.1% and the S&P 500 has gained 5.9%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

September 23, 2020 06:45 ET (10:45 GMT)

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(GHIV) shot up 16% in premarket trading Wednesday, after the special purpose acquisition company (SPAC), also known as a blank-check company, announced it will take United Wholesale Mortgage public in deal that values the mortgage lender at $16.1 billion. The deal includes $425 million of cash from Gores and a $500 million private placement, which is anchored by \"top tier\" institutional investors. After the deal, the company will operate under the United Wholesale Mortgage <a href=\"https://laohu8.com/S/UWM\">$(UWM)$</a> name, and the stock will be listed on the Nasdaq under the ticker symbol \"UWMC.\" Michigan-based United Wholesale said it is the largest wholesale mortgage originator in the U.S., and the companies boast that UWM's valuation makes the deal the largest transaction by a SPAC to date. Gores's stock, which went public in March, has gained 7.9% over the past three months through Tuesday, while the <a href=\"https://laohu8.com/S/IPO\">Renaissance IPO ETF</a> <a href=\"https://laohu8.com/S/IPO.UK\">$(IPO.UK)$</a> has run up 23.1% and the S&amp;P 500  has gained 5.9%. \n</p>\n<p>\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  September 23, 2020 06:45 ET (10:45 GMT)\n</p>\n<p>\n  Copyright (c) 2020 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Gores Holdings stock soars after SPAC's deal to take United Wholesale Mortgage public</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGores Holdings stock soars after SPAC's deal to take United Wholesale Mortgage public\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2020-09-23 18:45</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Gores Holdings stock soars after SPAC's deal to take United Wholesale Mortgage public\n</p>\n<p>\n  Shares of <a href=\"https://laohu8.com/S/GHIV\">Gores Holdings IV Inc</a>. (GHIV) shot up 16% in premarket trading Wednesday, after the special purpose acquisition company (SPAC), also known as a blank-check company, announced it will take United Wholesale Mortgage public in deal that values the mortgage lender at $16.1 billion. The deal includes $425 million of cash from Gores and a $500 million private placement, which is anchored by \"top tier\" institutional investors. After the deal, the company will operate under the United Wholesale Mortgage <a href=\"https://laohu8.com/S/UWM\">$(UWM)$</a> name, and the stock will be listed on the Nasdaq under the ticker symbol \"UWMC.\" Michigan-based United Wholesale said it is the largest wholesale mortgage originator in the U.S., and the companies boast that UWM's valuation makes the deal the largest transaction by a SPAC to date. Gores's stock, which went public in March, has gained 7.9% over the past three months through Tuesday, while the <a href=\"https://laohu8.com/S/IPO\">Renaissance IPO ETF</a> <a href=\"https://laohu8.com/S/IPO.UK\">$(IPO.UK)$</a> has run up 23.1% and the S&amp;P 500  has gained 5.9%. \n</p>\n<p>\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  September 23, 2020 06:45 ET (10:45 GMT)\n</p>\n<p>\n  Copyright (c) 2020 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IPO","symbol_name":"Renaissance IPO ETF","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2069708120","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2069708120","pubTimestamp":1600857900,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"MW Gores Holdings stock soars after SPAC's deal to take United Wholesale Mortgage public\n\n\n  Shares ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IPO":"Renaissance IPO ETF"},"translate_title":"Gores Holdings的股票在SPAC同意联合批发抵押贷款公司上市后大涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IPO":0.9,"GHIV":0.9},"content_text":"MW Gores Holdings stock soars after SPAC's deal to take United Wholesale Mortgage public\n\n\n  Shares of Gores Holdings IV Inc. (GHIV) shot up 16% in premarket trading Wednesday, after the special purpose acquisition company (SPAC), also known as a blank-check company, announced it will take United Wholesale Mortgage public in deal that values the mortgage lender at $16.1 billion. The deal includes $425 million of cash from Gores and a $500 million private placement, which is anchored by \"top tier\" institutional investors. After the deal, the company will operate under the United Wholesale Mortgage $(UWM)$ name, and the stock will be listed on the Nasdaq under the ticker symbol \"UWMC.\" Michigan-based United Wholesale said it is the largest wholesale mortgage originator in the U.S., and the companies boast that UWM's valuation makes the deal the largest transaction by a SPAC to date. Gores's stock, which went public in March, has gained 7.9% over the past three months through Tuesday, while the Renaissance IPO ETF $(IPO.UK)$ has run up 23.1% and the S&P 500  has gained 5.9%. \n\n\n  -Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  September 23, 2020 06:45 ET (10:45 GMT)\n\n\n  Copyright (c) 2020 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}