GigInternational1, Inc. Announces the Separate Trading of its Common Stock and Warrants Commencing July 9, 2021
02 July 2021 - 11:00PM
Business Wire
GigInternational1, Inc. (Nasdaq: GIWWU) (the “Company” or
“GigInternational1”) today announced that holders of the Company’s
public units may elect to separately trade the common stock and
warrants underlying such public units commencing on July 9, 2021.
Each unit consists of one share of common stock and one-half (1/2)
of 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. For each public unit, one
share of common stock and one-half (1/2) of one warrant will be
issued. Because, pursuant to the warrant agreement, the warrants
may only be exercised for a whole number of shares, only a whole
warrant may be exercised at any given time. Accordingly, unless a
holder of public units owns and separates in increments of two
units, such holder will receive and be able to trade only whole
warrants (to the extent that the holder owns and separates in
increments of more than one unit), and will forfeit any fractional
warrants upon separation of the units.
Those public units not separated will continue to trade under
the symbol “GIWWU.” The common stock and warrants are expected to
trade under the symbols “GIW” and “GIWWW,” respectively. Holders of
the public units will need to have their brokers contact
Continental Stock Transfer & Trust Company, the Company’s
transfer agent, in order to separate the public units into shares
of common stock and warrants.
The public units were initially offered by the Company in an
underwritten offering, and Oppenheimer & Co. Inc. and William
Blair & Company, L.L.C. (collectively, the “Underwriters”)
acted as the joint book-running managers for the offering and acted
as co-manager for the offering.
Registration statements relating to the offering of the public
units and the underlying securities had been filed by the Company
and were declared effective by the U.S. Securities and Exchange
Commission (the “SEC”) on May 18, 2021. Additionally, the
Underwriters exercised their over-allotment option for the purchase
of 900,000 units.
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 Oppenheimer & Co. Inc., Attention: Syndicate
Prospectus Department, 85 Broad Street, 26th Floor, New York, New
York 10004, by telephone at (212) 667-8055, or by email at
EquityProspectus@opco.com and 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 GigInternational1 Sponsor, LLC, used
pursuant to agreement.
About GigInternational1
GigInternational1 (Nasdaq: GIWWU) 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,
mobility, and semiconductor industries, primarily located in Europe
or Israel. It was sponsored by GigInternational1 Sponsor, 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 an
enterprise valuation larger than $1 billion.
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version on businesswire.com: https://www.businesswire.com/news/home/20210702005021/en/
MEDIA Brian Ruby, ICR, brian.ruby@icrinc.com
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