Company: GIGGU
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001193125-25-277896
Chunk: 637

Company: GigCapital7 Corp.
Filing Date: 2025-11-12
Form: S-4
Chunk 637
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 accounted for at fair value as a liability under ASC 480 Distinguishing Liabilities from Equity, as they are potentially settled in a variable number of shares based on future valuation, lack substantive equity characteristics, and are potentially redeemable in cash or other assets under certain conditions. Because they are classified as liabilities, the SAFEs are adjusted to fair value at each reporting date. The fair value of the Company’s SAFEs were based on significant inputs not observable in the market, which cause the instrument to be classified as a Level 3 measurement with the fair value hierarchy. The SAFEs are valued using the market approach for intangible asset method, which considers among other things, comparable transactions, relevant market multiples, asset characteristics, transaction type, market conditions and qualitative comparable normalization. The following table presents a reconciliation of the liabilities, measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2025:

| Balance at December 31, 2024           |     | $ |   566,404 |
| SAFEs issued during the period         |     |   | 1,227,000 |
| Change in fair value during the period |     |   | 5,825,461 |
| Balance at June 30, 2025               |     | $ | 7,618,865 |

As of June 30, 2025 and December 31, 2024 the estimated fair value of the SAFEs was $7,618,865 and $566,404, respectively. The change in fair value during the six months ended June 30, 2025 is reflected in the above table is included in other loss in the accompanying condensed statement of operations. 6. LEASES The Company has an operating lease for vehicle entered into in February 2025 and expires in January 2028. Under the terms of the lease, base rent is $1,058 per month. There is no renewal options associated with the lease. The Company has an operating lease for office space in Redwood City, California which was entered into in June 2025 and expires in June 2026. Under the terms of the lease, base rent is $6,006 per month. There is no renewal options associated with the lease. Operating lease costs for the six months ended June 30, 2025 were $16,589. Short-term lease arrangements of $5,405 for the six months ended June 30,