GigCapital (GIG) Releases Shareholder Vote Info
by Kristi Marvin on 2019-06-06 at 7:27am

This morning, GigCapital, Inc. (GIG), released the details of their shareholder vote to approve their extension deadline to December 12, 2019, from June 12, 2019. As a result, the Sponsor and Founders will be contributing $240,000 to GigCapital’s Trust account for each calendar month that is needed to complete their business combination with Kaleyra.

Per the 8-K, 6,825,464 shares of the Company’s common stock elected to redeem, which represents approximately 47.5% of the IPO shares. That means roughly $77.6 million will remain in the trust account, down from their estimated $148 million held in trust before the vote.

Additionally, the 8-K states that 11,636,542 shares of Common Stock will remain issued and outstanding, so if we deduct the promote shares and at-risk capital shares included in the at-risk units, we are left with 7,544,536 public shares.  That also means, the per-share contribution amount to the trust each month going forward will be $0.0318.  

GigCapital previously stated they will be contributing the $240,000 to their trust account by June 12th.

You can review the results of all the vote HERE, but a summary has also been provided below.

 

The Extension Amendment:
FORAGAINSTABSTAINBroker Non-Votes
17,529,028126,87620,0000

 

 

GigCapital (GIG) Releases Shareholder Vote Info
Recent Posts
by Nicholas Alan Clayton on 2025-07-08 at 8:11pm

Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...

by Nicholas Alan Clayton on 2025-07-08 at 12:36pm

M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...

by Nicholas Alan Clayton on 2025-07-08 at 8:18am

At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...

by Nicholas Alan Clayton on 2025-07-07 at 9:05am

Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...

by Nicholas Alan Clayton on 2025-07-07 at 8:50am

Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved