Company: GIGGU
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001193125-25-277896
Chunk: 175

Company: GigCapital7 Corp.
Filing Date: 2025-11-12
Form: S-4
Chunk 175
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 connection with our liquidation may be reduced.

If, before distributing the proceeds in the Trust Account to the Public Shareholders, GigCapital7 files a bankruptcy or insolvency petition or an involuntary bankruptcy or insolvency petition is filed against it that is not dismissed, the proceeds held in the Trust Account could be subject to applicable bankruptcy law, and may be included in GigCapital7’s bankruptcy estate and subject to the claims of third parties with priority over the claims of GigCapital7’s shareholders. To the extent any bankruptcy claims deplete the Trust Account, the per-share amount that would otherwise be received by GigCapital7’s shareholders in connection with our liquidation may be reduced.

If, after GigCapital7 distributes the proceeds in the Trust Account to its Public Shareholders, it files a bankruptcy or insolvency petition or an involuntary bankruptcy or insolvency petition is filed against it that is not dismissed, a bankruptcy or insolvency court may seek to recover such proceeds, and the members of the GigCapital7 Board may be viewed as having breached their fiduciary duties to GigCapital7’s creditors, thereby exposing the members of the GigCapital7 Board and GigCapital7 to claims of punitive damages.

If, after GigCapital7 distributes the proceeds in the Trust Account to its Public Shareholders, it files a bankruptcy or insolvency petition or an involuntary bankruptcy or insolvency petition is filed against it that is not dismissed, any distributions received by shareholders could be viewed under applicable debtor/creditor and/or bankruptcy laws as either a “preferential transfer” or a “fraudulent conveyance”. As a result, a bankruptcy or insolvency court could seek to recover some or all amounts received by GigCapital7’s shareholders. In addition, the GigCapital7 Board may be viewed as having breached its fiduciary duty to GigCapital7’s creditors and/or having acted in bad faith, thereby exposing itself and GigCapital7 to claims of punitive damages, by paying Public Shareholders from the Trust Account prior to addressing the claims of creditors.

The SEC has recently issued final rules to regulate special purpose acquisition companies. Certain of the procedures that we may determine to undertake in connection with such rules may increase our costs and the time needed to complete the Business Combination or any other initial business combination and may constrain the circumstances under which we could complete the Business Combination, or any other initial business combination.

On January 24, 2024, the SEC issued final rules (the “2024 SPAC Rules”), effective as of July 1, 2024, that formally