January 11, 2018

GigCapital, Inc. Announces Closing of Over-Allotment Option in Connection With Its Initial Public Offering of Common Stock

PALO ALTO, Calif.–(BUSINESS WIRE)–GigCapital, Inc. (NYSE: GIG.U) a Delaware corporation that is an emerging-growth blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses, also known as a Special Purpose Acquisition Company, or SPAC, today announced that the underwriters, pursuant to the terms of the underwriting agreement, exercised in full their previously announced option to purchase 1,875,000 newly issued units to cover over-allotments, and on January 9, 2018, purchased these additional units, generating additional gross proceeds of $18,750,000.

The total aggregate issuance by the Company of 14,375,000 units at a price of $10.00 per unit resulted in total gross proceeds of $143,750,000.

Each unit consists of one share of common stock, one right and three-fourths (3⁄4) of one warrant to purchase one share of common stock for an exercise price of $11.50 per whole share of common stock. Only whole warrants are exercisable. Each right entitles the holder thereof to receive one-tenth (1⁄10) of one share of common stock upon the consummation of the Company’s initial business combination.

The units are listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “GIG.U.” Once the securities comprising the units begin separate trading, the rights and warrants are expected to be listed on the NYSE under the symbols “GIG RT” and “GIG WS” respectively.

Cowen and Chardan acted as bookrunners for the offering.

Registration statements relating to these units and the underlying securities have been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on December 7, 2017 and December 8, 2017.

A final prospectus relating to and describing the final terms of the offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov or may be obtained from Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department. Phone (631) 274-2806 / Fax (631) 254-7140. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.