The Latest Non-Redemption Agreements: September 27, 2023
by Nicholas Alan Clayton on 2023-09-27 at 5:31pm

GigCapital 5, Inc. (GIA) Signs Non-Redemption Agreements

GigCapital 5 (NASDAQ:GIA) announced in an 8-K this morning that it has entered non-redemption agreements with third parties that will secure up to 2,042,903 shares from redemption.

One of these third parties is Meteora Capital Partners and the investors have made this commitment with the caveat that none will individually hold more than 9.9% of GigCapital5’s outstanding shares as a result.

In exchange, GigCapital5’s business combination target QT Imaging has agreed to issue to these investors shares equal to 15% of the number of shares that are not redeemed and subject to the agreements. These shares are to be dispersed at the closing of the deal.

Tomorrow, September 28, GigCapital5 shareholders will vote on an extension of its transaction deadline from that date to December 31.

READ

 

Recent Posts
by Nicholas Alan Clayton on 2024-02-23 at 7:39am

At the SPAC of Dawn SPACs have officially landed on the Moon. Despite a few last-minute delays and minor malfunctions, Intuitive Machines’ (NASDAQ:LUNR) Odysseus lander made the first soft landing on the Moon since 1972 and the first ever by a commercial enterprise. Three other private missions to the moon have failed in recent years...

by Nicholas Alan Clayton on 2024-02-22 at 2:50pm

Moringa (NASDAQ:MACA) has entered into a definitive agreement to combine with clinical-stage biotech firm Silexion at a pre-transaction equity value of $62.5 million. Modi’in-Maccabim-Reut, Israel-based Silexion is developing a range of potential cancer treatments with its most advanced efforts targeting pancreatic cancer. The combined company is expected to trade on the Nasdaq once the deal...

by Nicholas Alan Clayton on 2024-02-22 at 1:32pm

News and Rumors CityWire: A subsidiary of Allianz (DE:ALV) and Constellation Wealth Capital have signed on to invest $400 million in asset management firm AlTi Global (NASDAQ:ALTI), purchasing a combination of ordinary shares and Series A convertible preferred stock. AlTi is up 21% in midday trading on the news. It combined with Cartesian Growth in...

by Nicholas Alan Clayton on 2024-02-22 at 10:47am

AltEnergy (NASDAQ:AEAE) has entered into a definitive agreement to combine with automotive parts manufacturer Car Tech at a yet undisclosed enterprise value. Opelika, Alabama-based Car Tech manufactures stamped metal parts that make up automotive chassis and bodies for car makers. The combined company is expected to trade on the Nasdaq once the deal is completed...

by Nicholas Alan Clayton on 2024-02-22 at 7:43am

At the SPAC of Dawn Once upon a time, Lucid (NASDAQ:LCID) and its SPAC partner Churchill IV, were the darlings of retail investors and meme stock traders, but a new de-SPAC has emerged with promises of zooming investors to the moon. Intuitive Machines (NASDAQ:LUNR), which combined with Inflection Point in February 2023, today aims to...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved