Blank check company GigCapital2 files and sets terms for a $130 million IPO

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GigCapital2, a blank check company formed by semiconductor veteran Avi Katz to acquire a TMT business, filed on Thursday with the SEC to raise up to $130 million in an initial public offering.

The Palo Alto, CA-based company plans to raise $130 million by offering 13 million units at a price of $10. At $10, GigCapital2 would command a market value of $168 million. Each unit consists of one share of common stock and one warrant to purchase a share of common stock at $11.50 per share. 

GigCapital2 was founded in 2019 and plans to list on the NYSE under the symbol GIX.U. EarlyBirdCapital and Northland Securities are the joint bookrunners on the deal.

The article Blank check company GigCapital2 files and sets terms for a $130 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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