Gores Holdings IV, Inc. announced private placement of 5,000,000 warrants for $2 per warrant for a gross proceeds of $10,000,000 with returning investor Gores Sponsor IV LLC on December 5, 2019. The company also granted over-subscription option of 600,000 warrants for additional proceeds of $1,200,000 if the underwriters’ option to purchase additional units is exercised. Each warrant entitles the holder thereof to purchase one share of class A common stock at $11.50 per share, subject to adjustment. The warrant is exercisable to the later of 30 days after the completion of initial business combination and 12 months from the closing of the transaction. The warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the sponsor or its permitted transferees. The transaction will close simultaneously with the closing of public offering.