GigCapital, a blank check company formed to acquire a TMT business, announced terms for its IPO on Wednesday.
The Palo Alto, CA-based company plans to raise $150 million by offering 15 million units at a price range of $10. At pricing, GigCapital would command a fully diluted market value of $193 million. Each unit consists of one share of common stock, one right to receive one-tenth of one share upon consummation of its initial business combination and one-half of one warrant, exercisable at $11.50.
GigCapital was founded in 2017 and plans to list on the NYSE under the symbol GIG.U. Cowen & Company is the sole bookrunner on the deal.
