GigCapital5, Inc. Announces Closing of $230,000,000 Initial Public Offering
28 September 2021 - 10:10PM
Business Wire
GigCapital5, Inc. (NYSE: GIA.U) (the “Company” or “GigCapital5”)
today announced the closing of its initial public offering of
23,000,000 units at a price of $10.00 per unit, including an
additional 3,000,000 units sold pursuant to the full exercise of
the underwriter’s over-allotment option, for gross proceeds of $230
million. 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 began trading on the New York Stock Exchange (NYSE)
under the ticker symbol “GIA.U” 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.
Led by Dr. Avi Katz, Executive Chairman, and Dr. Raluca Dinu,
Chief Executive Officer, President, Secretary and Director,
GigCapital5 is the sixth Private-to-Public Equity (PPE)™ company
founded since GigCapital Global’s inception in late 2017, three of
which have closed transactions – Kaleyra (NYSE: KLR), UpHealth
(NYSE: UPH), and Lightning eMotors (NYSE: ZEV).
GigCapital5will 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. acted as the joint book-running managers for the
offering.
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 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, or 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/20210928006093/en/
Brian Ruby, ICR, brian.ruby@icrinc.com
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