GigCapital5, a SPAC led by co-founder Dr. Avi Katz, lowered its planned offering to 20 million units, down 43% from the 35 million units initially registered in March. A unit will still consist of one share and one-third of a warrant.
William Blair & Co is the book-runner for the offering. The underwriter’s over-allotment option has been trimmed to 3 million units, down from 5.25 million.
The SPAC’s focus remains on companies in the TMT, A&D, intelligent automation and sustainable industries.
Katz’s GigCapital2 closed a merger with UpHealth in June. Read more.
