June 13, 2019

GigCapital2, Inc. Announces Closing of Over-Allotment Option in Connection With Its Initial Public Offering

PALO ALTO, Calif.–(BUSINESS WIRE)–GigCapital2, Inc. (NYSE: GIX.U) (www.GigCapital2.com) (the “Company”) today announced that the underwriters, pursuant to the terms of the underwriting agreement, exercised in full their previously announced option to purchase 2,250,000 newly issued units to cover over-allotments, and on June 13, 2019, purchased these additional units, generating additional gross proceeds of $22,500,000. Following the exercise of the over-allotment option, the total aggregate issuance by the Company of 17,250,000 units at a price of $10.00 per unit resulted in total gross proceeds of $172,500,000.

Each unit consists of one share of common stock, one right and one warrant to purchase one share of common stock at a price of $11.50 per share. Each right entitles the holder thereof to receive one-twentieth (1/20) 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”) under the symbol “GIX.U”. Once the securities comprising the units begin separate trading, the shares, rights and warrants are expected to be traded on the NYSE under the symbols “GIX”, “GIX RT”, and “GIX WS”, respectively.

The Company is a Private-to-Public Equity (PPE)™ company, also known as a blank check company or special purpose acquisition company (SPAC). It was sponsored by GigAcquisitions2, LLC, which was founded by GigFounders, LLC (www.gigfoundersglobal.com), each a member entity of the GigCapital Group, and 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. The Company intends to capitalize on the GigCapital Group’s experience and background in the technology, media and telecommunications (TMT) industries and to target TMT companies that are at the forefront of high technology and are enabling the future evolution of intelligent systems and solutions (such as data-intense mobility, autonomous platforms, smart sensor applications, human interaction, unified data management and artificial intelligence). The Company applies its unique “Mentor-Investor™” philosophy to partner with its targets where it offers financial, operational and executive mentoring in order to accelerate their growth and development from a privately held entity to a fast growing publicly traded company.

Dr. Avi Katz is the Executive Chairman, Secretary, President and Chief Executive Officer of the Company, and is also the sole manager of GigAcquisitions2, LLC.

EarlyBirdCapital, Inc. (“EarlyBird”) and Northland Securities, Inc. (“Northland”) acted as joint book running managers and Odeon Capital Group LLC acted as a co-manager for the offering.

A registration statement relating to these units and the underlying securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 5, 2019.

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 by contacting EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate Department, 212-661-0200; or by contacting Northland Securities, Inc., Attention: Heidi Fletcher, 150 South Fifth Street, Suite 3300, Minneapolis, MN 55402, email hfletcher@northlandcapitalmarkets.com or telephone (612) 851-4918. This press 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.