GigCapital5, Inc. Announces Pricing of $200,000,000 Initial Public Offering
24 September 2021 - 2:04AM
Business Wire
GigCapital5, Inc. (NYSE: GIA.U) (the “Company” or “GigCapital5”)
today announced the pricing of its initial public offering of
20,000,000 units at a price of $10.00 per unit. Each unit consists
of one share of common stock and 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 will be listed on the New York Stock Exchange
(NYSE) and are expected to trade under the ticker symbol “GIA.U”
beginning on September 24, 2021. Once the securities comprising the
units begin separate trading, the shares and warrants are expected
to be traded on NYSE under the symbols “GIA” and “GIA.WS,”
respectively. The offering is expected to close on September 28,
2021, subject to customary closing conditions.
GigCapital5 is GigCapital Global’s sixth Private-to-Public
Equity (PPE)™ company since inception in late 2017. The Company
will seek companies in the technology, media, and
telecommunications, aerospace and defense, advanced medical
equipment, intelligent automation and sustainable industries
anywhere in the world that embrace today’s digital transformation
and intelligent automation as a competitive advantage.
Wells Fargo Securities, LLC, 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.
Registration statements relating to the securities became
effective on September 23, 2021. The offering was made only by
means of a prospectus, copies of which may be obtained by
contacting Wells Fargo Securities, Attention: Equity Syndicate
Department, 500 West 33rd Street, New York, New York, 10001, at
(800) 326-5897 or emailing a request to
cmclientsupport@wellsfargo.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 GigAcquisitions5, LLC, used pursuant to
agreement.
About GigCapital5
GigCapital5 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, advanced medical
equipment, intelligent automation and sustainable industries. It
was sponsored by GigAcquisitions5, 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 a goal
of reaching an enterprise value of over $600 million.
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version on businesswire.com: https://www.businesswire.com/news/home/20210923006005/en/
Brian Ruby, ICR, brian.ruby@icrinc.com
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