GigCapital, Inc. Announces Launching of De-SPACing Efforts of Kaleyra Business Combination

PALO ALTO, Calif.--(BUSINESS WIRE)--GigCapital, Inc., (NYSE: GIG, GIG.U, GIG.RT, and GIG.WS) (“GigCapital”) a Technology, Media and Telecom (TMT) Private-to-Public Equity (PPE)™ corporation, today announced that as GigCapital, Inc. (the “Company”) 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. 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.