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GigCapital9 Announces Letter of Intent for Proposed Business Combination with a Leading Clean Energy Technology Company

GIX
  • GigCapital9 Corp. (NASDAQ: GIX) entered a non-binding Letter of Intent with a clean energy technology company specializing in post-combustion carbon capture solutions.
  • The proposed business combination aims to commercialize AI-driven clean firm power applications to meet growing power demand driven by artificial intelligence.
  • The target company has a pre-money enterprise value of approximately $600 million, with a potential earnout of up to $100 million.
  • The transaction is anticipated to complete in late Q2 2027, subject to due diligence, financing, regulatory approvals, shareholder votes, and other customary closing conditions.
  • A minimum of $50 million in PIPE financing is contemplated, with the target company expecting to source about half from existing investors and the remainder from new investors.
  • Dr. Avi S. Katz, Executive Chairman and CEO of GigCapital9, stated the deal aligns with the company's Private-to-Public Equity Mentor Investor model to scale deep technology for environmental sustainability.
  • The LOI is non-binding regarding the business combination, except for specific provisions, and there is no assurance that definitive agreements will be executed or the transaction consummated.
  • Further details regarding financial terms and structure will be disclosed once definitive agreements are signed and regulatory disclosures are authorized.