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PALO ALTO, Calif., August 30, 2024--(BUSINESS WIRE)--GigCapital7 Corp. (NASDAQ: GIGGU) (the "Company"), a Cayman Islands exempted company, announced today that it has closed its initial public offering of 20,000,000 units at $10.00 per unit. Each unit consists of one (1) Class A ordinary share and one (1) redeemable warrant. The gross proceeds to the Company from the offering, before deducting underwriting discounts and commissions and other offering expenses, were $200,000,000, and net proceeds from the offering and concurrent private offerings by the Company were approximately $201,950,000, of which $200,000,000 has been deposited into a trust account maintained by Continental Stock Transfer & Trust Company acting as trustee.
The units are listed on The Nasdaq Global Market ("NASDAQ") and began trading under the ticker symbol "GIGGU" on August 29, 2024. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on NASDAQ under the symbols "GIG," and "GIGGW," respectively.
Craft Capital Management LLC acted as a joint book-running manager with EF Hutton LLC in the offering. Lucosky Brookman LLP served as legal counsel to the underwriters. DLA Piper LLP (US) served as counsel to the Company.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on August 28, 2024. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EF Hutton LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhutton.com. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About GigCapital7 Corp.
GigCapital7 Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region.