SPACInsider Logo
GigCapital (GIG) Files Multiple Updates Tonight
by Kristi Marvin on 2019-09-24 at 8:23pm

Lots of Gig News Tonight…

Gig Capital (GIG) filed multiple documents tonight, so a summary of each has been provided below.

Termination Date Extended

Gig filed an 8-K tonight announcing that they have officially moved their Outside Date (when the Purchase Agreement can be terminated) from September 24, 2019 to December 12, 2019.   There was never really any danger of this deal being terminated today, but we now “officially” have a new termination date.  Hopefully, we should have a shareholder vote date to complete well ahead of that, but most likely it will take place around mid-November.

Cash Tender Offer of Rights

Post-announcement of Gig’s LOI with Greenhaven to hold Gig’s Rights Shares 60 days post-closing of Gig’s combination with Kaleyra (at which point Gig will buy them back), tonight Gig also cleared up its intention to continue with its cash tender offer of its Rights.  There was a bit of a question mark yesterday as to whether the tender was off in lieu of the Greenhaven announcement, but it is now clearly still on. Gig wants to mop up as many Rights Shares as it can.  However, we still do not have a tender offer document with all of the details, i.e., at what price Gig will tender those Rights. However, if Gig intends to close before December 12th (see above), they should be filing tender offer documents relatively shortly.  As soon as that information is filed, an update will be provided.

New Proxy

Lastly, Gig filed a new Preliminary Proxy this evening, but it was essentially to include the Greenhaven announcement. However, you can find the new proxy statement HERE.

 

 

 

Recent Posts
by Marlena Haddad on 2023-02-02 at 5:54pm

A SPAC I Acquisition Corp. (NASDAQ:ASCA) announced this afternoon that it has adjourned its special meeting to extend its timeline to complete a business combination. The meeting was originally scheduled to be held today, but is now being postponed until February 13 due to a change in terms for its extension. A SPAC I has also extended...

by Marlena Haddad on 2023-02-02 at 11:35am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Mondee acquires Orinter for $40M, Fisker, ChargePoint and Lucid say court decision creates ‘uncertainty’, and Getaround gets delisting warning from NYSE Mondee gains foothold in Brazil with Orinter acquisition  Travel marketplace and technology...

by Marlena Haddad on 2023-02-02 at 10:15am

Latest SPAC Liquidations: Itiquira Acquisition Corp., Biotech Acquisition Company Itiquira Acquisition Corp. (ITQ) to Liquidate on February 14 Itiquira Acquisition Corp. (Nasdaq: ITQ) announced today it intends to dissolve and liquidate at an estimated per-share redemption price of approximately $10.17. The company anticipates that the Public Shares will cease trading as of the close of business on February...

by Nicholas Alan Clayton on 2023-02-02 at 10:14am

Bill Ackman is still tinkering with his SPARCs. In a new S-1/a filed this morning, the Pershing Square founder provided an update to his proposed model that is “not a SPAC”, but that would do some SPAC-like things. In a simple sense, Ackman is seeking change in the order of operations from: find investors, raise...

by Marlena Haddad on 2023-02-01 at 5:35pm

Latest SPAC Liquidations: DTRT Health Acquisition Corp., Seaport Calibre Materials Acquisition Corp. DTRT Health (DTRT) to Liquidate on January 30 On January 30, 2023, the stockholders of DTRT Health Acquisition Corp. (Nasdaq: DTRT) approved an amendment to allow the company to redeem all of its issued and outstanding shares of Class A common stock in advance...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved