|Bid||10.19 x 4000|
|Ask||10.22 x 800|
|Day's Range||10.18 - 10.26|
|52 Week Range||9.81 - 11.70|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
(Bloomberg) -- Lodging startup Sonder, which decks out apartments and hotel rooms as hip short-term rentals, is in talks to merge with blank-check company Gores Metropoulos II Inc., according to people familiar with the matter.A transaction between Sonder and the Gores special purpose acquisition company, or SPAC, is set to value the combined entity at more than $2.5 billion, said one of the people, who asked not to be identified because the matter is private. Terms haven’t been finalized and talks could still fall apart.Representatives for Sonder and Gores declined to comment.Last year, Sonder reached a valuation of $1.3 billion after a funding round.The company has raised more than $560 million to date and is backed by investors including Fidelity Investments, WestCap, Inovia Capital, Valor Equity Parters, Greenoaks Capital, Greylock Partners and Spark Capital.Gores Metropoulos II, led by chairman Dean Metropoulos and Chief Executive Officer Alec Gores, raised $450 million in a January initial public offering.San Francisco-based Sonder first refurbishes short-term rentals and lists them on its website, as well as with Airbnb Inc. and Expedia Group Inc.’s Vrbo. Sonder, which has taken over other buildings including old hat factories and police stables, has also expanded in recent years to work with hotels.Sonder CEO Francis Davidson began experimenting with amenities when he was managing apartments as a McGill University student in Montreal. Davidson founded Sonder in 2012 with Martin Picard, and told Bloomberg News in 2019 that the company had ambitions of raking in more revenue than Marriott by 2025.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Gores Metropoulos II, Inc. (Nasdaq: GMIIU) (the "Company") announced that, commencing March 15, 2021, holders of the units sold in the Company’s initial public offering of 45,000,000 units completed on January 22, 2021 may elect to separately trade the shares of Class A common stock and warrants included in the units. Those units not separated will continue to trade on the Nasdaq Capital Market under the symbol "GMIIU," and the Class A common stock and warrants that are separated will trade on the Nasdaq Capital Market under the symbols "GMII" and "GMIIW," respectively.
Gores Metropoulos II, Inc. (the "Company"), a blank check company sponsored by an affiliate of The Gores Group, LLC, and an affiliate of Metropoulos and Co., and formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of 45,000,000 units, which includes 5,000,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $450,000,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.