GIGCAPITAL7 CORP - GIGGU STOCK NEWS

GigCapital7 Corp. (NASDAQ: GIGGU), a Cayman Islands exempted company, announced that holders of its public units will be able to separately trade the Class A ordinary shares and warrants starting September 10, 2024.

Each unit includes one Class A ordinary share and one redeemable warrant, allowing the holder to purchase one Class A ordinary share at $11.50 per share. Unseparated units will continue to trade under the symbol GIGGU, while separated Class A shares and warrants will trade under GIG and GIGGW respectively.

To separate the units, holders must have their brokers contact Continental Stock Transfer & Trust Company. The public units were initially offered in an underwritten offering managed by Craft Capital Management and EF Hutton

Prospectuses can be obtained from EF Hutton , and the registration statement is available on the SEC's website.

GigCapital7 Corp. (NASDAQ: GIGGU) has successfully closed its initial public offering (IPO) of 20,000,000 units at $10.00 per unit, raising $200,000,000 in gross proceeds. Each unit comprises one Class A ordinary share and one redeemable warrant. The company's net proceeds, including concurrent private offerings, totaled approximately $201,950,000. Of this amount, $200,000,000 has been deposited into a trust account.

The units began trading on the Nasdaq Global Market under the ticker symbol 'GIGGU' on August 29, 2024. Once separate trading begins, the common stock and warrants are expected to trade under 'GIG' and 'GIGGW', respectively. Craft Capital Management and EF Hutton acted as joint book-running managers for the offering.

GigCapital7 Corp. (NASDAQ: GIGGU) has priced its initial public offering of 20,000,000 units at $10.00 per unit, totaling $200,000,000. The units are expected to list on the Nasdaq Global Market under the ticker symbol 'GIGGU' starting August 29, 2024. Each unit comprises one Class A ordinary share and one redeemable warrant. Craft Capital Management and EF Hutton are acting as joint book-running managers. The underwriters have a 45-day option to purchase up to an additional 3,000,000 units to cover over-allotments. The offering is anticipated to close on August 30, 2024, subject to customary conditions.

GigCapital4, Inc. is urging stockholders to vote in favor of its business combination with BigBear.ai slated for December 3, 2021. This follows the anticipated transition of its common stock and warrants to the NYSE on December 8, 2021, under the ticker symbols BBAI for common stock and BBAIW for warrants. The last trading day on Nasdaq is expected to be December 7, 2021. Stockholders are advised to attend the special meeting online to vote, with no action required regarding the listing change.

BigBear.ai reported record quarterly revenue of $40.2 million for Q3 2021, reflecting an 11% increase from the previous quarter. Year-to-date revenue reached $112.1 million. The company also noted a net loss of $8.8 million due to investments and COVID-related delays. Significant recent contract wins added over $150 million to its backlog, totaling approximately $485 million. BigBear.ai is set to complete its business combination with GigCapital4 by early December 2021, aiming for listing on the NYSE and further growth.

GigCapital4, Inc. (GIG, GIGGU, GIGGW) has scheduled a Special Meeting of Stockholders for December 3, 2021, to approve its business combination with BigBear.ai. The definitive proxy statement was filed with the SEC on November 5. Upon completion, the new entity will trade under the ticker symbols BBAI and BBAIW on the NYSE. The transaction values BigBear.ai at an enterprise value of approximately $1.57 billion and is expected to provide GigCapital4 with around $330 million in cash, enhancing growth opportunities.

BigBear.ai reported approximately $72 million in revenue for the six months ended June 30, 2021. The company secured over $150 million in new contract awards since the quarter's end, with a backlog totaling around $485 million. The adjusted gross margin for the Analytics segment stands at 48%. BigBear.ai is expanding its workforce, hiring 75+ new employees in R&D, sales, and marketing. A business combination with GigCapital4 (GIG) is on track to close in the fourth quarter of 2021, intending to enhance growth and technology development.

BigBear.ai and GigCapital4, Inc. will host a virtual Analyst Day on September 22, 2021, from 10:00am ET to 12:00pm ET. The event will include presentations from executives and a Q&A session. BigBear.ai, a leader in AI and machine learning solutions, is set for a business combination with GigCapital4, a SPAC, proposed on June 4, 2021, with completion expected in Q4 2021. Attendees can access a live webcast on BigBear.ai's website for further insights on the merger.

BigBear.ai and GigCapital4 have announced a definitive merger agreement, with BigBear.ai set to become publicly traded. The transaction values BigBear.ai at approximately $1.57 billion, based on its 2020 revenue of $140 million. Expected to close in Q3 2021, the merger will enhance capital flexibility for BigBear.ai, aiding in technology development and market expansion. The company projects significant revenue growth from $182 million in 2021 to $764 million by 2025, along with substantial increases in adjusted EBITDA and free cash flow.