DiamondPeak Re-files Their S-1 and Gores Metropoulos Gets Ready to Price

DiamondPeak Holdings Corp.

DiamondPeak Holdings Corp., re-filed their S-1 early this afternoon and just like Monocle, they added back their delaying amendment.  By putting the delaying amendment back on, the SEC now declares the registration effective rather than just waiting out the 20 days the way you would with no delaying amendment.

Previously, DiamondPeak would have gotten effective on February 11th (20 days), and presumably priced, but now that date is a little up in the air. However, they could still price February 11th, but the removal of the amendment gives them flexibility should they need to delay it a little further out on the calendar (or, if later in the month is just preferable).

Gores Metropoulos, Inc.

We have another expected pricing tonight as Gores Metropoulous (GMHIU) gets set to IPO their $375 million SPAC. The Gores Metropoulos team will be focusing on companies in the consumer services and products sectors and will be led by the formidable team of Dean Metropoulos and Alec Gores, as Chairman and CEO, respectively.

This is a hot deal given that this is the fourth “Gores SPAC”.  Plus, it also includes consumer heavyweight, Dean Metropoulos, who originally took over Hostess back in 2013 and sold part of the company to Gores Holdings (the Gores team’s first SPAC), back in 2016.  That SPAC now trades under the symbol TWNK, in a nod to the iconic “Twinkie” sold by Hostess.

If Gores Metropoulos prices tonight as expected, we will have three SPACs in the books for 2019, with five more on deck to IPO.  Not a bad start for the first month of the year considering the circumstances…