GigInternational1, the seventh blank check company formed by semiconductor veteran Avi Katz, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Palo Alto, CA-based company plans to raise $200 million by offering 20 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, GigInternational1 would command a market value of $258 million.
The company was formed by Executive Chairman Avi Katz, who previously co-founded and led semiconductor company GigPeak until its sale to Integrated Device Technology (IDT), and CEO and Director Raluca Dinu, the former VP and General Manager of IDT's Optical Interconnects Division. GigInternational1 plans to target the TMT, A&D, mobility, and semiconductor industries, with a focus on businesses in EMEA.
Katz's most recent SPACs include GigCapital6 (GIFFU) and GigCapital5 (GIA.U), both of which filed last month, and GigCapital4 (GIGGU; +0% from $10 offer price), which went public this past February.
GigInternational1 was founded in 2021 and plans to list on the Nasdaq under the symbol GIWWU. Oppenheimer & Co. and William Blair are the joint bookrunners on the deal.
