PALO ALTO, Calif.--(BUSINESS WIRE)--GigCapital2, Inc. (NYSE: GIX.U) (www.gigcapital2.com) (the “Company”) today announced that Dr. Avi Katz, Executive Chairman and Chief Executive Officer of the Company, will ring The Opening Bell, which signals the opening of the day's trading at the New York Stock Exchange, on Tuesday, June 11, 2019. Dr. Katz will be joined by several members of the Company's leadership and advisory teams who will participate in the ceremonial ringing to mark the initial public offering (IPO) of its second Private-to-Public Equity (PPE)™ company, also known as a blank check company or special purpose acquisition company (SPAC).
"I am thrilled to be joined by many of GigCapital Group’s key contributors to open the New York Stock Exchange after the successful completion of our oversubscribed initial public offering," said Dr. Avi Katz. “This IPO comes approximately 18 months after the IPO of our first Private-to-Public Equity (PPE) company, GigCapital, Inc. (NYSE:GIG), which is on track to complete its previously announced business combination with Kaleyra S.p.A. later this year. Our second IPO is a testament to the success we are achieving with our industry leading Mentor Investors™ methodology. This industry-first platform offers fast-growing private companies who are looking to accelerate their path to a U.S. listed public company access to GigCapital Group’s experienced entrepreneurs. We appreciate the trust and support we have received from our investors and the NYSE and look forward to expanding our footprint in the PPE marketplace as we continue our global growth and expansion.”
GigCapital2 is 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.
Note Concerning Forward Looking Statements
This news release contains statements that constitute “forward-looking statements,” including with respect to the business combination between GigCapital, Inc. and Kaleyra S.p.A. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the parties, including those set forth in the Risk Factors sections of filings made with the SEC. Copies are available on the SEC’s website, www.sec.gov. We undertake no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
“Private-to-Public Equity (PPE)” and “Mentor-Investor” are trademarks of GigFounders, LLC, a member entity of the GigCapital Group and the founder of GigAcquisitions2, LLC, used pursuant to agreement.
About The GigCapital Group
The GigCapital Group (GigCG) is a technology, media and telecommunications (TMT) focused investment group led by an affiliated team of technology industry corporate executives and entrepreneurs, and TMT operational and strategic experts in the private and public markets, including substantial, success-proven M&A and IPO activities. The group deploys a unique Mentor-Investors methodology to partner with exceptional TMT companies, managed by dedicated and experienced entrepreneurs. The GigCG Private-to-Public Equity (PPE) companies (also known as blank check companies or special purpose acquisition companies (SPACs)) offer financial, operational and executive mentoring to U.S. and overseas private, and non-U.S. public companies, in order to accelerate their path from inception and as a privately-held entity into the growth-stage as a publicly traded company in the U.S. The partnership of GigCG with these companies continues through an organic and roll-up strategy growth post the transition to a public company. GigCG was launched in 2017 with the vision of becoming the lead franchise in incepting and developing TMT Private-to-Public Equity (PPE) companies. In late 2017, GigCG incepted its first Private-to-Public Equity (PPE) company, GigCapital, Inc. (“GigCapital1”) (www.GigCapitalGlobal.com), which conducted its IPO on December 7, 2017 (NYSE: GIG.U), raising $125,00,000 in the base offering, which was increased to $143,750,000 with the underwriters exercise of their over-allotment option. GigCapital1 was sponsored by GigAcquisitions, LLC, (“GigAcquisitions1”) which was founded by GigFounders, LLC (www.gigfoundersglobal.com). In February 2018, GigCapital1 announced the execution of a definitive stock purchase agreement to acquire Kaleyra S.p.A. (www.kaleyra.com), headquartered in Milan, Italy, a combination that GigCapital1 expects to close during the 2nd half of 2019. In March 2019, GigCG launched GigCapital2, Inc. (“GigCapital2”) (www.GigCapital2.com), which conducted its IPO on June 5, 2019 (NYSE:GIX.U) for $150,00,000 in the base offering, and also granted the underwriters a 45-day over-allotment option for the sale of up to an additional $22,500,000 of GigCapital2’s units. GigCapital2 is sponsored by GigAcquisitions2, LLC, which was founded by GigFounders, LLC. GigCG pioneered the TMT Private-to-Public Equity (PPE) methodology, focusing solely on technology companies that are beyond the Private Equity Growth Stage and are striving to be established as a publicly listed enterprise on the NYSE. The GigCG Private-to-Public Equity (PPE) companies deploy a unique methodological process to systematically search and target prospective partners, generating a high-quality domestic and international attractive funnel of potential business combination opportunities. All GigCG members are financially involved in seeding the Private-to-Public (PPE) entities and commit time to support the mission and initiatives of GigCG to build a long-term industry leader Private-to-Public Equity (PPE) franchise. GigCG is committed to partner and enable public offerings of exceptional TMT companies being led by solid long term committed leadership teams. For more on GigCG and its affiliates please see www.GigCG.com.