GigCapital4, the fourth blank check company led by semiconductor veteran Avi Katz, filed on Friday with the SEC to raise up to $260 million in an initial public offering.
The Palo Alto, CA-based company plans to raise $260 million by offering 26 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, GigCapital4 would command a market value of $334 million.
The company is led by Executive Chairman Avi Katz, who previously co-founded and led semiconductor company GigPeak until its sale to Integrated Device Technology (IDT). He is joined by CEO and Director Raluca Dinu, whose previous roles include VP and General Manager of IDT's Optical Interconnects Division and COO of GigPeak. GigCapital4 plans to target businesses in the TMT and sustainable industries with enterprise values larger than $750 million.
Katz's previous SPACs include GigCapital3 (GIK; +60% from $10 offer price), which went public in May 2020 and currently has a pending merger agreement with Lightning eMotors; GigCapital2 (GIX; +9%), which went public in June 2019 and currently has a pending merger agreement with digital health and telemedicine companies UpHealth and Cloudbreak Health; and GigCapital, which went public in December 2017 and completed its merger with CPaaS provider Kaleyra (KLR; +23%) in November 2019.
GigCapital4 was founded in 2020 and plans to list on the Nasdaq under the symbol GIGU. The company filed confidentially on December 31, 2020. Oppenheimer & Co. and Nomura Securities are the joint bookrunners on the deal.
