Pennant Capital Discloses Gores Holdings Stake ~ market folly

Monday, August 1, 2016

Pennant Capital Discloses Gores Holdings Stake

Alan Fournier's hedge fund firm Pennant Capital has filed a 13G with the SEC regarding Gores Holdings (GRSHU).  Per the filing, Pennant now owns 5.87% of Gores Holdings with 2.2 million shares. 

This is a newly disclosed stake and the filing was made due to activity on July 19th.

Per Google Finance, Gores Holdings is "a blank check company. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company focuses to effect its business combination using the proceeds held in the Trust Account from its Public Offering and the sale of the Private Placement Warrants, its capital stock, debt or a combination of these as the consideration. The Company has no operations. The Company has not generated any revenue."

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