GigCapital7, a blank check company led by semiconductor veteran Avi Katz, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Palo Alto, CA-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and three-quarters of a warrant, exercisable at $11.50. At the proposed deal size, GigCapital7 would command a market value of $417 million.
The company is led by CEO and Chairman Avi Katz, who previously co-founded and led semiconductor company GigPeak until its sale to Integrated Device Technology (IDT). GigCapital7 plans to target the TMT, AI/ML, cybersecurity, MedTech, semiconductor, and sustainable industries.
Katz has been involved in several other SPACs, some of which include GigCapital6, which withdrew its offering in 2022; GigInternational1 (GIWWU), which liquidated in 2022; GigCapital5, which completed its combination with medical imaging provider QT Imaging (QTI; -93% from $10 offer price) in March 2024; and GigCapital4, which completed its combination with tech company BigBear.ai (NYSE: BBAI; -86%) in 2021.
GigCapital7 was founded in 2024 and plans to list on the Nasdaq under the symbol GIGGU. Spartan Capital Securities is the sole bookrunner on the deal.
