GigCapital announces de-SPACing efforts

GigCapital, Inc., (NYSE: GIG, GIG.U, GIG.RT, and GIG.WS) (“GigCapital”) a Technology, Media and Telecom (TMT) Private-to-Public Equity (PPE)™ corporation, has announced that as GigCapital, Inc. begins immediately the de-SPACing process of its previously disclosed business combination with Kaleyra (the “Business Combination”), and as previously stated by the company in its preliminary proxy statement filed with the Securities and Exchange Commission on July 31, 2019, the company may choose to engage in various activities such as raising equity in conjunction with the consummation of the Business Combination, or have the post-combination company increase its borrowing capacity to provide it with additional liquidity in order to help it drive growth, the company said.

In this regard, and as part of the de-SPACing process, the company is currently evaluating different capital scenarios, including regarding borrowing, for the purposes of enhancing its current capital structure, and strengthening its future liquidity and financial position, including with regard to its outstanding Rights.

Kaleyra, GigCapital and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from GigCapital´s stockholders in respect of the Business Combination and related transactions.

GigCapital is a Private-to-Public Equity (PPE)™ company, (also known as a Blank-Check or Special Purpose Acquisition Company (“SPAC”)), sponsored by GigAcquisitions, LLC, and sole-managed by GigFounders, LLC (www.gigfoundersglobal.com). All were founded in 2017. For more information, visit www.gigcapitalglobal.com.