DLA Piper advises GigCapital5 in US$230 million IPO

Rhea-AI Summary

GigCapital5, Inc. (NYSE: GIA.U) successfully completed its initial public offering on September 28, 2021, raising a total of $230 million by issuing 23 million units at $10 each. This figure includes 3 million units from the overallotment option. Each unit comprises one share of common stock and one warrant, which allows the purchase of a share at $11.50. GigCapital5 is the sixth PPE entity from GigCapital Global since 2017, targeting sectors such as technology, media, telecommunications, aerospace, and sustainable industries.

Positive

• Successfully raised $230 million in IPO.
• Issued 23 million units, increasing public interest.
• Focus on diverse high-growth sectors.

Negative

• None.

NEW YORK, Sept. 28, 2021 /PRNewswire/ -- DLA Piper represented GigCapital5, Inc. (NYSE: GIA.U) in its initial public offering of 23,000,000 units at a price of $10 per unit, including 3,000,000 units issued upon the exercise of the over–allotment option granted to the underwriters. Each unit consists of one share of common stock and one redeemable warrant of the company. Each whole warrant entitles the holder to purchase one share of the company's common stock at a price of $11.50 per share. 

GigCapital5 is GigCapital Global's sixth private-to-public equity (PPE) company since its inception in late 2017. It will focus on companies in the technology, media and telecommunications; aerospace and defense; advanced medical equipment; intelligent automation; and sustainable industries.

"It was a pleasure to support GigCapital5 in its IPO, utilizing our deep SPAC experience and capital markets capabilities," said Jeffrey Selman, the DLA Piper partner who led the firm's deal team.

In addition to Selman (San Francisco), the DLA Piper team representing GigCapital5 included Elena Nrtina (Silicon Valley) and Spencer Hodson (Sacramento).

DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.

About DLA Piper
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

View original content:https://www.prnewswire.com/news-releases/dla-piper-advises-gigcapital5-in-us230-million-ipo-301387321.html

SOURCE DLA Piper

FAQ

What happened in GigCapital5's IPO on Sept 28, 2021?

GigCapital5 raised $230 million by issuing 23 million units priced at $10 each, including an overallotment option.

What is included in each unit of GigCapital5's IPO?

Each unit consists of one share of common stock and one redeemable warrant.

What sectors is GigCapital5 targeting following its IPO?

GigCapital5 will focus on technology, media, telecommunications, aerospace, and sustainable industries.

What is the ticker symbol for GigCapital5?

The ticker symbol for GigCapital5 is GIA.U.