GigInternational1, Inc. Announces Stockholder Approval of Extension Amendment to the Amended and Restated Certificate of Incorporation and Investment Management Trust Agreement
20 August 2022 - 6:05AM
Business Wire
GigInternational1, Inc. (“GigInternational1” or the “Company”)
(Nasdaq: GIW; GIWWU; GIWWW), a blank check company, also commonly
referred to as a special purpose acquisition company, or SPAC,
formed for the purpose of entering into a merger, capital stock
exchange, asset acquisition, stock purchase reorganization or
similar business combination with one or more businesses or
entities, today announced that its stockholders approved an
extension of the date by which it has to consummate a business
combination, allowing the Company to extend such date six (6) times
for an additional one (1) month each time, from August 21, 2022 to
February 21, 2023 (the date which is 21 months from the closing
date of GigInternational1’s initial public offering) (the
extension, the “Extension”). Accordingly, GigInternational1’s Trust
Account has been funded with a $200,000 payment for the first
one-month extension period. As the Company has not yet announced a
business combination, the Company’s board of directors currently
believes that without the Extension, there will not be sufficient
time to complete such a transaction.
About GigInternational1 GigInternational1 is a blank
check company, also commonly referred to as a special purpose
acquisition company, or SPAC, formed for the purpose of entering
into a merger, capital stock exchange, asset acquisition, stock
purchase reorganization or similar business combination with one or
more businesses or entities. While GigInternational1’s efforts to
identify a target business may span many industries, the focus of
GigInternational1’s search is for prospects within the technology,
media and telecommunications, aerospace and defense, mobility, and
semiconductor industries, primarily located in Europe or Israel.
GigInternational1 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.
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Any statements
contained herein that are not statements of historical fact may be
deemed to be forward-looking statements. In addition, any
statements that refer to characterizations of future events or
circumstances, including any underlying assumptions, are
forward-looking statements. There can be no assurance that future
developments affecting GigInternational1 will be those that we have
anticipated. These forward-looking statements involve a number of
risks, uncertainties or other assumptions that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements, including
that the GigInternational1 stockholders will approve the
transaction, that such stockholders will not exercise their
redemption rights related to the GigInternational1 trust account
and the ability of the post-combination company to meet the Nasdaq
listing standards. Should one or more of these risks or
uncertainties materialize, or should any of our assumptions prove
incorrect, actual results may vary in material respects from those
projected in these forward-looking statements. Additional factors
that could cause actual results to differ are discussed under the
heading “Risk Factors” and in other sections of GigInternational1’s
filings with the SEC, and in GigInternational1’s current and
periodic reports filed or furnished from time to time with the SEC.
All forward-looking statements in this press release are based on
information available to GigInternational1 as of the date hereof,
and GigInternational1 assumes no obligation to update any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
Additional Information and Where to Find It In connection
with the Extension, GigInternational1 filed a definitive proxy
statement (the “Definitive Statement”) containing a notice of
special meeting and definitive proxy statement of
GigInternational1. GigInternational1’s stockholders and other
interested persons are advised to read the Definitive Statement,
including any amendments thereto and other documents filed in
connection with GigInternational1’s solicitation of proxies for its
special meeting of stockholders to be held to approve, among other
things, the Extension.
Stockholders may obtain a copy of the preliminary or definitive
proxy statement, as well as other documents filed with the SEC by
GigInternational1, without charge, at the SEC’s website located at
www.sec.gov or by directing a request to Brad Weightman, Chief
Financial Officer, GigInternational1, Inc., 1731 Embarcadero Rd.,
Suite 200, Palo Alto, CA 94303, or by telephone at (650) 276-7040,
or by contacting Morrow Sodali LLC, GigInternational1’s proxy
solicitor, toll-free at (800) 662-5200. Participants in the
Solicitation
GigInternational1 and its respective directors and executive
officers and other persons may be deemed to be participants in the
solicitations of proxies from GigInternational1 stockholders in
respect of the Extension. Information regarding GigInternational1’s
directors and executive officers is available in its final
prospectus filed with the SEC under Rule 424(b)(4) on May 21, 2021.
Additional information regarding the participants in the proxy
solicitation and a description of their direct and indirect
interests is contained in the proxy statement related to the
proposed business combination, which was filed on a Form DEF 14A on
August 8, 2022, and which can be obtained free of charge from the
sources indicated above.
No Offer or Solicitation This press release shall not
constitute a solicitation of a proxy, consent or authorization with
respect to any securities or in respect of the business
combination. This press release shall also not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any jurisdiction in which
the offer, solicitation, or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20220819005250/en/
GigInternational1, Inc.: Dr. Raluca Dinu Chief Executive
Officer and President GigInternational1, Inc. +1-650-276-7040
GIW.info@investor.morrow.sodali.com
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