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  3. Harneys advises GigCapital on US$200 million NASDAQ listing

Harneys advises GigCapital on US$200 million NASDAQ listing

05 Sep 2024
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Harneys acted as Cayman Islands legal counsel to GigCapital7 Corp. (GigCapital) on the initial public offering of its shares, raising approximately US$200 million. The shares commenced trading on the Nasdaq Global Market under the ticker symbol "GIGGU" on 30 August 2024.

GigCapital is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganisation, or similar business combination with one or more businesses. GigCapital’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region.

The Harneys team was led by Partner George Weston with support from Partners Philip Graham and Christopher Hall, and Senior Associate James Kitching. Harneys acted on instructions from DLA Piper. The firm’s strategic alliance partner, Harneys Fiduciary, provides fiduciary services to GigCapital.

George commented: “This deal is a great example of the resurgence in interest in SPAC IPOs we have seen in 2024 and we were delighted to work with DLA Piper and the sponsor team to see this over the line. The deal highlights the public M&A and equity capital markets expertise we have across our teams in the Americas.”

“The entire Harneys team demonstrated the foremost professionalism, commitment and dedication to support the IPO of GigCapital7, GigCapital Global’s first registered SPAC in the Caymans, and working closely together with the DLA Piper and GigCapital team enabled this successful project”, said Dr. Avi Katz, Founding Managing Partner and Executive Chairman of GigCapital Global.

The Corporate team at Harneys has a leading Equity Capital Markets (ECM) practice with substantial experience in all aspects of capital raising by offshore companies, including IPOs and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, SPACs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. The firm’s ECM expertise lies in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Luxembourg Stock Exchange.