Footprint, a global materials science technology company focused on creating a healthy planet, and Gores Holdings VIII, Inc., announced they have mutually agreed to terminate their previously announced merger agreement effective immediately. The termination of the merger agreement is the result of current unfavorable conditions in the public markets.
Don Thompson, Chairman of the Footprint Board, commented, “Footprint remains focused on delivering innovative and environmentally friendly solutions for our customers. Despite the challenging financial market environment that has hindered our merger plans, we continue to make progress toward our vision of creating a healthier planet and healthier people by reducing the use of single-use and short-term plastics in the supply chain. We appreciate the tremendous support from Alec Gores and the team at Gores Holdings VIII throughout this process – they have been great partners to all of us at Footprint.”
Alec Gores, Chairman and CEO of The Gores Group and Chairman of Gores Holdings VIII said, “After careful thought and consideration, we mutually determined that this action is in the best interest of all parties at this time given current market conditions. Irrespective of this outcome, we feel optimistic about Footprint’s future as the company continues to demonstrate strong performance with continued record revenue growth and robust capacity expansion year-to-date. Don Thompson, Troy Swope and the entire Footprint team are clearly leaders in the market, producing and delivering innovative solutions to their customers across the globe. We continue to be very excited for what’s ahead for Footprint.”
For more information: Footprint
