GigCapital Enters Non-Binding Letter Of Intent With Yakira Capital Management For The Acquisition Of The ~408.75K GigCapital Shares Currently Held By Yakira

Author: Benzinga Newsdesk | October 04, 2019 09:09am

On October3, 2019, GigCapital, Inc., a Delaware corporation (“GigCapital” or the “Company”), entered into a non-binding letter of intent (the “LOI”) with Yakira Capital Management (“Yakira”) for the acquisition of (i)the 408,750 shares of common stock of GigCapital currently held by Yakira (the “Initial Shares”), and (ii)the shares of common stock of GigCapital into which the 419,299 rights (NYSE:GIG) currently held by Yakira (the “Initial Rights”) will convert upon the closing of GigCapital’s business combination (the “Business Combination”) with Kaleyra, S.p.A. (“Kaleyra”, which term also refers to the post-combination company). The date of the closing of the Business Combination is referred to herein as the “Business Combination Closing Date.” The Initial Rights will convert into 41,929 shares of common stock of GigCapital (the “Initial Right Shares”) upon the closing of the Business Combination. Prior to the Business Combination Closing Date, Yakira may, but is not obligated to, acquire an additional 500,000 shares of common stock of GigCapital (the “Additional Shares,” and together with the Initial Shares, the “Shares”) and 500,000additional rights (the “Additional Rights” and together with the Initial Rights, the “Rights”). The Additional Rights may convert into an additional 50,000 shares of common stock of GigCapital (the “Additional Rights Shares,” and together with the Initial Rights Shares, the “Rights Shares”). The LOI pertains to the Rights, the Shares and the Rights Shares.

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