Gores Holdings X Inc (NASDAQ: GTEN) is a blank check special purpose acquisition company incorporated as a Cayman Islands exempted company on June 26, 2023, formed for the sole purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company has generated no revenue and conducted no operations as of December 31, 2025. On May 5, 2025, the company completed its IPO of 35,880,000 units at $10.00 per unit, generating gross proceeds of $358,800,000, with IPO proceeds held in a trust account pending an initial business combination. CEO Mark Stone, who has served since July 2023, is a Senior Managing Director of The Gores Group and previously led Gores Holdings I through VII as CEO. The company is a shell company as defined under the Securities Exchange Act of 1934, with nominal assets consisting solely of cash and cash equivalents as of the filing date.

Revenue model

No revenue has been generated as of December 31, 2025. The structure relies on deploying IPO trust proceeds of $358,800,000 toward an initial business combination. Sponsor and insider economics are driven by 8,970,000 founder shares acquired for $25,000 ($0.003 per share). Up to $1,500,000 in sponsor loans may be convertible into private placement shares at $10.00 per share.

Products and services

Units consisting of one Class A Ordinary Share and one-fourth of one Warrant, sold at $10.00 per unit in the May 5, 2025 IPO. Each whole Warrant entitles the holder to purchase one Class A Ordinary Share at $11.50 per share. 225,000 private placement Class A Ordinary Shares were sold simultaneously to Gores Sponsor X LLC at $10.00 per share, generating $2,250,000 in additional gross proceeds.

Customers and end markets

Public shareholders who purchased units in the May 5, 2025 IPO. No operating customers or end markets exist, as the company has no operations as of December 31, 2025.

Value-chain role

SPAC sponsor vehicle managed by The Gores Group, acting as acquisition sponsor and deal originator seeking a private-to-public merger target.

Geographic exposure

Incorporated in the Cayman Islands. No operating geographic exposure disclosed in the filing.

Source: SEC 10-K, filed 2026-03-30

Industry: Blank Checks