Gores Holdings X reported a net income of $0.921 million for the year ended December 31, 2025, which includes a non-cash warrant fair value loss, and recorded a net loss from operations of $1.850 million. The company reported a basic and diluted net loss per ordinary share of $(0.76) for the period. There were no operating revenues as the company is a special purpose acquisition company focused on completing an initial business combination.
Financial Highlights
- Net Income: $0.921 million for the year ended December 31, 2025 (includes non‑cash warrant fair value loss).
- Net loss from operations / Operating Income: $(1.850) million for the year ended December 31, 2025.
- Net loss per ordinary share / Net loss per common share: $(0.76) basic and diluted per share for the year ended December 31, 2025 (applies to Class A redeemable, Class A non‑redeemable, Class B shares).
Business Highlights
- IPO and capital formation: Completed an initial public offering on May 5, 2025, raising approximately $358.8 million and a related $2.25 million private placement to support efforts to identify and complete a business combination.
- Operational focus: The company had no operating revenue during the period; its primary activities are target identification, due diligence and negotiating an initial business combination.
- Trust account deployment: Approximately $367.7 million held in a money market trust account designated to fund a business combination; interest from the trust may be used for limited operations.
- Sponsor and advisory support: Sponsor provided initial funding and ongoing administrative services, with advisory and deferred fees structured around completion of a business combination.
- Timeline and execution risk: Management expects to complete a business combination by May 5, 2027 and notes potential funding shortfalls if transaction costs exceed estimates.
Original SEC Filing:
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