DLA Piper advises GigCapital4 in its upsized US$360 million IPO

Rhea-AI Summary

GigCapital4, Inc. (NASDAQ: GIGGU) successfully completed an upsized initial public offering (IPO) of 35,880,000 units at $10 each, raising approximately $360 million. Each unit includes one share of common stock and a third of a redeemable warrant, with full warrants priced at $11.50 per share. The company, a special purpose acquisition company (SPAC), focuses on the technology, media, telecommunications, and sustainable industries. DLA Piper represented GigCapital4 in the IPO, highlighting their expertise in capital markets.

Positive

• Successfully raised approximately $360 million through upsized IPO.
• Focus on technology, media, telecommunications, and sustainable industries indicates growth potential.

Negative

• None.

NEW YORK, Feb. 12, 2021 /PRNewswire/ -- DLA Piper represented GigCapital4, Inc. (NASDAQ: GIGGU) in its upsized initial public offering of 35,880,000 units, after exercise of the underwriters' over-allotment option, at a price of $10 per unit. Each unit consists of one share of common stock and one-third of 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. 

GigCapital4 is a special purpose acquisition company (SPAC) focused on the technology, media and telecommunications (TMT) and sustainable industries.

"We were pleased to bring together our extensive capital markets capabilities and our experience advising SPACs on complex transactions to assist GigCapital4 in its IPO," 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 GigCapital4 included partner Ben Griebe and associate Elena Nrtina (both of 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 

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SOURCE DLA Piper

FAQ

What was the total amount raised in GigCapital4's IPO?

GigCapital4 raised approximately $360 million in its IPO.

What does each unit in GigCapital4's IPO consist of?

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

What is the exercise price for the warrants related to GigCapital4?

The exercise price for each whole warrant is $11.50 per share.

When did GigCapital4 complete its IPO?

GigCapital4 completed its IPO on February 12, 2021.

What is the focus area of GigCapital4 as a SPAC?

GigCapital4 focuses on technology, media, telecommunications, and sustainable industries.