Company: GIGGU
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034611
Chunk: 164

Company: GigCapital7 Corp.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 164
---

    )

    Net cash used in investing activities

    (200,000,000
    )

    FINANCING ACTIVITIES

    Proceeds from sale of Class B ordinary shares to founder and consultant

    103,000

    Proceeds from sale of public units, net of underwriting discount paid

    199,400,000

    Proceeds from the sale of private placement warrants to Founder

    58,060

    Proceeds from sale of Class B ordinary shares in a private placement

    3,250,000

    Payment of offering costs

    (644,918
    )

    Net cash provided by financing activities

    202,166,142

    Net increase in cash

    1,344,228

    Cash at beginning of period

    —

    Cash at end of period
     
    $
    1,344,228

    Supplemental non-cash disclosure:

    Offering costs included in accounts payable, related party payable and accrued liabilities
     
    $
    75,000

    Accretion of Class A ordinary shares to redemption value
     
    $
    22,757,853

    Fair value of public warrants at issuance
     
    $
    18,460,769

The accompanying notes are an integral part of these financial statements.

78

GIGCAPITAL7 CORP.

Notes to Financial Statements

1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONSOrganization and GeneralGigCapital7 Corp. (the “Company”) was incorporated as a Cayman Islands exempted company on May 8, 2024. The Company was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The Company has not selected any specific Business Combination target, and the Company has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any Business Combination target with respect to an initial Business Combination with the Company.As of December 31, 2024, the Company had not commenced any operations. All activity for the period from May 8