Avi Katz’s GigCapital5 priced its IPO of 20 million units at $10 each. A unit consists of one share and one redeemable warrant.
Units begin listing today on the NYSE under GIA.U. Once the securities begin separate trading, shares and warrants are expected to list under GIA and GIA.WS.
The offering is expected to close Sept. 28.
GigCapital5 is GigCapital Global’s sixth Private-to-Public Equity (PPE)™ company since inception in late 2017. The SPAC will seek companies in the technology, media, and telecommunications, aerospace and defense, advanced medical equipment, intelligent automation and sustainable industries anywhere in the world.
Wells Fargo and William Blair are joint book-running managers for the offering. The managers have an option to purchase up to an additional 3 million units to cover any over-allotments. Read more.
