GigCapital9 Corp., trading on the Nasdaq Global Market under the ticker GIXXU, has completed its initial public offering, raising $253 million through the sale of 25.3 million units at $10.00 each. The offering included the full exercise of the underwriters' over-allotment option, indicating strong investor demand for the special purpose acquisition company's strategy. Each unit consists of one Class A ordinary share and one right to receive one-fifth of one Class A ordinary share upon completion of an initial business combination.
The company, which is the ninth Private-to-Public Equity vehicle of GigCapital Global, now has 24 months to identify and complete a business combination. According to the company's announcement, GigCapital9 will focus on aerospace and defense services and the technology, media and telecommunications sector. Specific areas of interest include cybersecurity, secure communications, quantum-based command and control, and artificial intelligence and machine learning. This strategic focus aligns with growing global demand for advanced defense technologies and digital transformation solutions across multiple industries.
Led by Chief Executive Officer and Chairman Dr. Avi Katz, GigCapital9 employs what it calls a Mentor-Investor methodology, aiming to partner with innovative companies with exceptional leadership. The company's approach represents a continuation of GigCapital Global's strategy of using special purpose acquisition companies to bring technology companies to public markets. D. Boral Capital LLC served as sole lead book-running manager for the offering, facilitating the capital raise that positions GigCapital9 to pursue acquisition targets in competitive technology sectors.
The successful IPO comes at a time when special purpose acquisition companies continue to serve as an alternative path to public markets for technology companies. GigCapital9's specific focus on aerospace, defense, and advanced technology sectors reflects investor interest in companies operating in areas with significant government and commercial spending. The company's timeline of 24 months to complete a business combination provides a defined window for identifying and merging with a target company, offering potential investors clarity on the investment horizon.
For more information about GigCapital Global, visit https://www.gigcapitalglobal.com/. Additional details about the press release distribution service that announced this offering can be found at https://www.InvestorWire.com.
