Exhibit 99.1
FOR IMMEDIATE RELEASE
Gores Holdings IV Announces United Wholesale Mortgages Intention to
Issue a Regular Annual Dividend Upon Closing of Business Combination
LOS ANGELES BUSINESSWIRE November 9, 2020 Gores Holdings IV, Inc. (Gores Holdings IV) (NASDAQ CM: GHIV, GHIVU, AND
GHIVW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC (The Gores Group or Gores), today announced United Wholesale Mortgages (UWM or the Company)
intention to adopt a policy of issuing a regular annual dividend of $0.40 per share as part of its capital allocation strategy following the consummation of the previously announced pending business combination with Gores Holdings IV (the
Business Combination).
Alec Gores, Chairman and Chief Executive Officer of The Gores Group, stated, Given UWMs free cash flow and
solid balance sheet, we strongly support the Companys intent to adopt a capital allocation policy that includes the issuance of an above-market regular dividend that allows stockholders to benefit from the teams continued success.
Mat Ishbia, UWMs president and CEO, stated, As the largest wholesale lender in the residential mortgage industry and on the heels of our best
quarter in the companys 34 year history, our intent to issue a dividend following our business combination with Gores Holdings IV demonstrates both our steadfast commitment to creating value for our stockholders and our ongoing belief that UWM
is well-positioned for the future. As I noted in our announcement last week, upon becoming a public company, we will continue to manage toward the long term by investing in our business as we have always done in the past, but we also intend to
leverage the Companys consistent and significant free cash flow to enhance stockholder value creation.
Founded in 1986 and based in Pontiac,
Michigan, UWM is the largest wholesale mortgage originator in the United States with nearly 7,000 dedicated team members. UWMs differentiated business model focuses exclusively on providing wholesale mortgage clients superior service through
proprietary technology that enables them to process mortgage applications at faster speeds and provide lower rates than competitors.
About Gores
Holdings IV, Inc.
Gores Holdings IV is a special purpose acquisition company sponsored by an affiliate of The Gores Group for the purpose of effecting
a merger, acquisition, or similar business combination. Gores Holdings IV completed its initial public offering in January 2020, raising approximately $425 million in cash proceeds. Prior business combinations for special purpose acquisition
companies sponsored by affiliates of The Gores Group include: Hostess (Gores Holdings, Inc.), Verra Mobility (Gores Holdings II, Inc.), PAE (Gores Holdings III, Inc.) and recently announced Luminar (Gores Metropoulos, Inc.). Upon the closing of
the Business Combination, Gores Holdings IV will change its name to UWM Corporation (UWMC).