GigCapital9 Corp. has completed its initial public offering, selling 25.3 million units at $10.00 per unit and generating gross proceeds of $253 million. The offering included the sale of an additional 3.3 million units through the full exercise of the underwriters' over-allotment option.
Each unit issued in the offering comprises one Class A ordinary share together with one right to receive one-fifth of one Class A ordinary share. Those rights permit holders to receive one full Class A ordinary share upon the closing of the company's initial business combination.
The units began trading on NASDAQ on January 27, 2026 under the ticker symbol "GIXXU." The company said that, once the units are separated and begin trading independently, the Class A ordinary shares and the rights are expected to trade under the symbols "GIX" and "GIXXR," respectively.
As a special purpose acquisition company (SPAC), GigCapital9 has a 24-month window to identify and complete a business combination. Management indicated the company will concentrate on targets in aerospace and defense services as well as the technology, media and telecommunications industries. Specific areas of interest include companies active in cybersecurity, secured communications, quantum-based command and control systems, and artificial intelligence and machine learning.
Leadership of the SPAC is headed by Dr. Avi Katz, who serves as Chief Executive Officer and Chairman and is identified as the Founding Managing Member of GigCapital Global. This offering represents the ninth SPAC launched under the GigCapital platform.
D. Boral Capital LLC acted as the sole lead book-running manager for the offering. The entire $253 million in proceeds was placed into the company's trust account. Legal counsel to the company was provided by DLA Piper LLP, while Lucosky Brookman LLP represented D. Boral Capital in the transaction.
The information reported here is based on a company press release statement filed with the Securities and Exchange Commission.
Summary
GigCapital9 sold 25.3 million units at $10 per unit, including 3.3 million units from the underwriters' over-allotment. The company is a SPAC with a 24-month period to pursue a business combination, focusing on aerospace, defense services and select technology sectors. Proceeds totaling $253 million have been placed in trust, and the units began trading on NASDAQ as of January 27, 2026.
Key points
- GigCapital9 raised $253 million by selling 25.3 million units at $10 each, including 3.3 million units from overallotment - impacts capital markets and SPAC activity.
- The SPAC has a 24-month deadline to complete a business combination, targeting aerospace and defense services and technology, media and telecommunications sectors - relevant to defense and tech industry participants.
- All proceeds were deposited into a trust account; units began trading on NASDAQ on January 27, 2026 under the symbol GIXXU, with expected separate tickers GIX and GIXXR once split.
Risks and uncertainties
- The SPAC must identify and close an appropriate business combination within 24 months - an outcome-dependent timeline that affects deal completion risk in the aerospace, defense and technology sectors.
- Until a business combination closes, investors hold units that include rights representing fractional future shares - uncertainty around the timing and terms of any combination could affect investor returns in markets tied to the targeted sectors.
- The success of the SPAC's investment strategy depends on identifying suitable targets in specialized areas such as quantum-based command and control and AI/ML, which may present integration or valuation challenges in the technology and defense markets.