GigCapital4, the fourth blank check company led by semiconductor veteran Avi Katz, raised $312 million by offering 31.2 million units at $10. The company offered 5.2 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
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; +49% from $10 offer price), which went public in May 2020 and currently has a pending merger agreement with Lightning eMotors; GigCapital2 (GIX; +2%), 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; +53%) in November 2019.
GigCapital4 plans to list on the Nasdaq under the symbol GIGGU. Oppenheimer & Co. and Nomura Securities acted as lead managers on the deal.
