GigInternational1, Inc. Announces Closing of $200 Million Initial Public Offering
May 21 2021 - 4:57PM
Business Wire
GigInternational1, Inc. (NASDAQ: GIWWU) (the “Company” or
“GigInternational1”), the fifth SPAC issued by the GigCapital
Global team since 2017, today announced the closing of its initial
public offering of 20,000,000 units at a price of $10.00 per unit
for gross proceeds of $200 million. Each unit consists of one share
of common stock and one-half (1/2) of one redeemable warrant of the
Company. Each whole warrant entitles the holder to purchase one
share of common stock of the Company at a price of $11.50 per
share.
The units began trading on the Nasdaq Capital Market (the
“NASDAQ”) under the ticker symbol “GIWWU” on May 19, 2021. Once the
securities comprising the units begin separate trading, the shares
and warrants are expected to be traded on the NASDAQ under the
symbols “GIW” and “GIWWW”, respectively.
Led by Dr. Avi Katz, Executive Chairman, and Dr. Raluca Dinu,
Chief Executive Officer, President, Secretary and Director, the
Company intends to focus on opportunities in the technology, media,
and telecommunications, aerospace and defense, mobility, and
semiconductor industries. From a geographic perspective, the
Company plans to focus predominantly on targets in Europe and
Israel.
Oppenheimer & Co. Inc. and William Blair & Company,
L.L.C. are the joint book running managers for the offering. The
managers have a 45-day option to purchase up to an additional
3,000,000 units solely to cover over-allotments, if any.
A final prospectus relating to and describing the final terms of
the offering has been filed with the SEC. The offering was made
only by means of a prospectus, copies of which may be obtained by
contacting Oppenheimer & Co. Inc., Attention: Syndicate
Prospectus Department, 85 Broad Street, 26th Floor, New York, New
York 10004, by telephone at (212) 667-8055, or by email at
EquityProspectus@opco.com and William Blair & Company, L.L.C.,
Attention: Prospectus Department, 150 North Riverside Plaza,
Chicago, Illinois 60606, by telephone at (800) 621-0687 or by email
at prospectus@williamblair.com. Copies of the registration
statements can also be accessed through the SEC’s website at
www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Note Concerning Forward Looking Statements
This news release contains statements that constitute
“forward-looking statements,” including with respect to the initial
public offering and the anticipated use of the net proceeds. No
assurance can be given that the offering discussed above will be
completed on the terms described, or at all, or that the net
proceeds of the offering will be used as indicated. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company’s registration statement and
preliminary prospectus for the Company’s offering filed with the
SEC. Copies are available on the SEC’s website, www.sec.gov. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
“Private-to-Public Equity (PPE)” and “Mentor-Investor” are
trademarks of GigFounders, LLC, a member entity of GigCapital
Global and the founder of GigInternational1 Sponsor, LLC, used
pursuant to agreement.
About GigInternational1
GigInternational1 (NASDAQ: GIWWU) is a Private-to-Public Equity
(PPE)™ company, also known as a blank check company or special
purpose acquisition company (SPAC), focusing on companies in the
technology, media, and telecommunications, aerospace and defense,
mobility, and semiconductor industries, primarily located in Europe
or Israel. It was sponsored by GigInternational1 Sponsor, LLC,
which was founded by GigFounders, LLC, each a member entity of
GigCapital Global, and formed for the purpose of entering into a
merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or similar business combination
with one or more businesses.
The Company intends to focus on opportunities to capitalize on
the ability of its management team, particularly its executive
officers, to identify, acquire and operate a business with an
enterprise valuation larger than $1 billion.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210521005523/en/
MEDIA Brian Ruby, ICR, brian.ruby@icrinc.com
GigInternational1 (NASDAQ:GIWWU)
Historical Stock Chart
From May 2024 to Jun 2024
GigInternational1 (NASDAQ:GIWWU)
Historical Stock Chart
From Jun 2023 to Jun 2024