GigInternational1 priced its IPO of 20 million units at $10 each. A unit consists of one share of common stock and one-half of one redeemable warrant; whole warrants exercisable at $11.50 for a share.
Units begin trading today on the Nasdaq under GIWWU. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under GIW and GIWWW, respectively. The offering is expected to close May 21.
Oppenheimer & Co. and William Blair & Company are joint book-running managers for the offering. The managers have a 45-day option to purchase up to an additional 3 million units to cover any over-allotments.
This is the seventh SPAC launched by Dr. Avi Katz. GigInternational1 intends to target companies around the world focused on the TMT, A&D, mobility, and semiconductor industries. Read more.
