GigCapital5, Inc. Announces Stockholder Approval of Extension Amendments to the Amended and Restated Certificate of Incorporation and Investment Management Trust Agreement


PALO ALTO, Calif.–(BUSINESS WIRE)–GigCapital5, Inc. (“GigCapital5” or the “Company”) (NYSE: GIA.U; GIA; GIA.WS), a blank check company, also commonly referred to as a Special Purpose Acquisition Company or SPAC, formed to pursue a merger , to enter into a stock exchange, asset acquisition, stock purchase restructuring, or similar business combination with one or more companies or entities, announced today that its shareholders have approved a change to the terms of the extension of the merger period through the end of which it is required to consummate a business combination, allowing the Company to extend such date six (6) times for an additional one (1) month period beginning September 28, 2022 through 28 months from the closing date of GigCapital5’s IPO (the Extension, the “Extension ’) by depositing $160,000 into escrow for each one-month renewal. As the Company has not yet announced a business combination, the Company’s board of directors currently believes that, absent the extension, there will not be sufficient time to complete such a transaction.

About GigCapital5

GigCapital5 is a blank check corporation, also commonly referred to as a Special Purpose Acquisition Company or SPAC, formed for the purpose of completing a merger, capital exchange, asset acquisition, stock purchase restructuring, or similar business combination involving one or more companies or entities. While GigCapital5’s efforts to identify a target company can span many industries, GigCapital5’s search focuses on prospects in technology, media and telecom, aerospace and defense, advanced medical equipment, intelligent automation, and sustainable industries . GigCapital5 was sponsored by GigAcquisitions5, LLC, which was formed by GigFounders, LLC, each a member firm of GigCapital Global, and formed for the purpose of entering into a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more companies.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, all statements that refer to characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. There can be no assurance that future developments affecting GigCapital5 will be those that we have foreseen. These forward-looking statements involve a number of risks, uncertainties or other assumptions that could cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements, including that GigCapital5 shareholders will approve the transaction that such shareholders will not exercise their redemption rights related to the GigCapital5 escrow account and the Company’s post-merger ability to meet NYSE listing standards. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of GigCapital5’s SEC filings and GigCapital5’s current and periodic reports filed from time to time at filed or provided with the SEC. All forward-looking statements in this press release are based on information available to GigCapital5 as of the date of this release, and GigCapital5 undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law securities laws may be required.

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Additional information and where to find it

In connection with the Renewal, GigCapital5 filed a final proxy statement (the “Final Declaration”), which includes a notice of the Special Meeting and a final proxy statement from GigCapital5. GigCapital5 shareholders and other interested persons are encouraged to read the Final Statement, including any amendments thereto, and other documents filed in connection with the solicitation of proxies for GigCapital5’s special meeting of shareholders to, among other things, approve the renewal.

Shareholders may obtain a copy of the preliminary or final proxy statement and other documents filed by GigCapital5 with the SEC free of charge at the SEC’s website at www.sec.gov or by request from Brad Weightman, Chief Financial Officer, GigCapital5, Inc., 1731 Embarcadero Rd., Suite 200, Palo Alto, CA 94303, or by calling (650) 276-7040 or by contacting Morrow Sodali LLC, GigCapital5’s Proxy Solicitor, toll-free at (800) 662-5200.

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participants in the tender

GigCapital5 and its respective directors and officers and others may be deemed a party to the solicitation of proxies from GigCapital5 shareholders in relation to the renewal. Information regarding GigCapital5’s directors and officers is available in its final prospectus filed with the SEC on September 27, 2021 under Rule 424(b)(4). Additional information about the participants in the proxy solicitation and a description of their direct and indirect interests is contained in the proxy statement relating to the proposed business combination, filed on September 12, 2022 on a Form DEF 14A and available free of charge from the sources identified above can be obtained.

No offer or solicitation

This press release does not constitute a solicitation of any power of attorney, consent or authorization with respect to any securities or with respect to the business combination. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities Selling securities in jurisdictions where the offer, solicitation or sale prior to registration would be unlawful or qualify under the securities laws of such jurisdiction.



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