Matterport (MTTR) Announces Redemption of Public Warrants

Matterport (NASDAQ:MTTR) announced this morning that it will redeem all outstanding warrants and warrantholders have until 5 pm ET, January 14, 2022 to exercise them.

The company, which completed its combination with Gores VI in July, has been a relative bright spot among de-SPACs in the current market, hitting a high of $33.48 on November 29 and generally trading above $20 since Halloween.

As such, it has long met the requirements of the warrant agreement to trade at or above $18 for 20 of 30 trading days at least three days before calling warrants. Warrantholders may exchange the 1/5 warrants originally included in Gores VI’s IPO for shares at a price of $11.50 per share.

Any of the 6,900,000 outstanding public warrants that remain unexercised after the deadline will be void, and those holders will be entitled to receive only the redemption price of $0.01 per warrant.

Gores VI and Matterport initially announced their $2.3 billion combination on February 8. Matterport provides spatial information on physical spaces to real estate and other industries and has created the largest spatial data library in the world.