Gores Holdings XI, a blank check company sponsored by The Gores Group, priced its initial public offering at $10.00 per unit on June 22, 2026. The deal moved 31.2 million units for gross proceeds of $312 million, and trading kicked off the following day on the Nasdaq Global Market under the ticker GHXIU.

Gores Holdings XI is chaired by Alec Gores, with Mark Stone serving as CEO. Both are associated with The Gores Group. Each unit in the offering consists of one Class A ordinary share and one-fourth of one redeemable warrant. The warrants are exercisable at $11.50 per whole warrant, meaning investors who collect four quarter-warrants can eventually buy an additional share at that price.

Santander served as the sole underwriter for the deal. The bank also has a 45-day over-allotment option that could add another 4.68 million units to the offering if demand warrants it. If fully exercised, that would push total proceeds north of $358 million.

The company’s registration statement was declared effective on June 22, the same day as pricing.

Gores Holdings XI has cast a wide net on its target sectors. The IPO materials list industrials, technology, telecommunications, media and entertainment, business services, healthcare, and consumer products as potential hunting grounds.

Notably, there is no mention of cryptocurrency assets or blockchain technology anywhere in the offering materials.

The $10.00 per unit pricing establishes a clean floor for the stock. SPAC units at IPO are essentially cash-backed, since the proceeds sit in a trust account until a deal closes or the vehicle liquidates.

If Santander exercises the full 4.68 million additional units within the 45-day window, it would indicate that demand exceeded the initial allocation.