GigCapital8 prices $220 million IPO, shares to begin trading Monday

NEW YORK - GigCapital8 Corp. (NASDAQ:GIWWU) has priced its initial public offering of 22 million units at $10.00 per unit, the blank check company announced Friday. The offering joins over 65 SPAC IPOs that have hit the market this year, collectively raising more than $10 billion in proceeds.

The units are expected to begin trading on the Nasdaq Global Market under the ticker symbol "GIWWU" on Monday, October 6. Each unit consists of one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share.

Once the securities begin separate trading, the Class A ordinary shares and rights will be listed under the symbols "GIW" and "GIWWR," respectively.

D. Boral Capital LLC is serving as the sole book-running manager for the offering and has been granted a 45-day option to purchase up to an additional 3.3 million units to cover any over-allotments. The offering is expected to close on October 7, subject to customary closing conditions.

GigCapital8 is a Cayman Islands exempted company formed as a special purpose acquisition company (SPAC) to identify and merge with an existing business. The company has not specified a particular industry or geographic region for its target acquisition.

A registration statement for the offering was declared effective by the Securities and Exchange Commission on September 30.

The announcement comes amid continued activity in the SPAC market, where blank check companies raise capital through IPOs with the intention of acquiring or merging with existing businesses.

According to the press release statement, the company will use the proceeds to identify and complete a business combination with one or more businesses. Investors tracking SPAC opportunities can access comprehensive IPO analysis and real-time market data through InvestingPro, which offers detailed insights into newly listed companies and their potential merger targets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.