Avi Katz's latest SPAC GigCapital9 prices $220 million IPO

GigCapital9, a blank check company led by SPAC veteran Avi Katz targeting aerospace and TMT businesses, raised $220 million by offering 22 million units at $10. Each unit consists of one share of common stock and one right to receive one-fifth of one share upon the completion of an initial business combination.The Palo Alto, CA-based company is led by CEO and Chairman Avi Katz, who previously co-founded and led semiconductor company GigPeak until its sale to Integrated Device Technology (IDT). His latest SPAC plans to focus on businesses in the aerospace and defense services industry and the technology, media and telecommunications (TMT) industry, including TMT companies focused on the following areas: cybersecurity and secured communications and quantum-based command and control systems, and artificial intelligence and machine-learning.Katz has previously been involved in various SPACs, which include GigCapital8 (GIWWU) which raised $220 million this past October, GigCapital7 (GIG) which raised $200 million in September 2024 and is pending a merger with micro reactor developer Hadron, GigCapital5, which completed its business combination with medical imaging firm QT Imaging Holdings (QTIH) in October 2021, GigCapital4, which merged with AI specialist BigBear.ai (BBAI) in December 2021, and GigCapital3, which merged with urban truck and bus EV developer Lighting eMotors (ZEVY) in May 2021.GigCapital9 plans to list on the Nasdaq under the symbol GIXXU. D. Boral Capital acted as sole bookrunner on the deal.