Business
GigCapital, Inc. Announces Extension of Cash Tender Offer for Its Rights
PALO ALTO, Calif.--(BUSINESS WIRE)-- GigCapital, Inc., (NYSE: GIG, GIG.U, GIG.RT, and GIG.WS) (“GigCapital” or the “Company”) a Technology, Media and Telecom
About this update from Gigcapital7 Corp.
[{"type":"text","content":" PALO ALTO, Calif.--(BUSINESS WIRE)--\nGigCapital, Inc., (NYSE: GIG, GIG.U, GIG.RT, and GIG.WS) (“GigCapital” or the “Company”) a Technology, Media and Telecom (TMT) Private-to-Public Equity (PPE)™ corporation, today announced that its previously announced tender offer to purchase up to 14,873,256 of its outstanding rights (each of the rights representing the right to receive one-tenth of one share of the Company’s common stock) at a purchase price of $0.99 per right, in cash, less any applicable withholding taxes and without interest, for an aggregate purchase price of up to $14,724,523.44, has been extended, in accordance with applicable rules and regulations governing tender offers, until one minute past 11:59 p.m., New York City time, on November 22, 2019, unless further extended or terminated. The tender offer was previously scheduled to expire at one minute past 11:59 p.m., New York City time, on November 7, 2019.\n\n\nExcept for the extension of the expiration date, all of the material terms and conditions set forth in the offer to purchase, the letter of transmittal and the other offer materials for the tender offer, as amended, remain unchanged.\n\n\nAs of November 7, 2019, 1,826,233 rights have been tendered and not withdrawn.\n\n\nThe tender offer is not conditioned on any financing or on any minimum number of rights being tendered. The tender offer is, however, subject to certain other conditions, including that the previously announced business combination (the “Business Combination”) with Kaleyra S.p.A. (“Kaleyra”) has been approved by the Company’s stockholders.\n\n\nThe rights are currently listed on the New York Stock Exchange under the symbol “GIG.RT.” As of November 6, 2019, the last reported closing price of the rights was $0.99 per right.\n\n\nAll of the Company’s sponsor, founders, directors and executive officers have advised the Company that they do not intend to tender their rights in the tender offer. In addition, the Company has announced that it entered into agreements with certain right holders that provide that such holders will not deliver their rights in response to the tender offer, and the Company may enter into similar agreements with other right holders. The Company is informed that all right holders who have advised it that they do not intend to tender their rights, and all right holders with...