GigCapital5, Inc. Confirms Receipt Of Sponsor Funds To Extend Period Of Time To Consummate Business Combination
Portfolio Pulse from Happy Mohamed
GigCapital5, Inc. (NASDAQ:GIA) has received a $100,000 payment to its Trust Account, extending the deadline to complete a business combination by one month to June 28, 2023. The aggregate principal amount under the promissory note has increased to $1,260,000.
May 26, 2023 | 12:33 pm
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GigCapital5 (GIA) has extended its business combination deadline to June 28, 2023, after receiving a $100,000 payment. The promissory note principal has increased to $1,260,000.
The receipt of the $100,000 payment and the extension of the business combination deadline provide GigCapital5 with more time to find a suitable target. However, the impact on the stock price is uncertain, as it depends on the market's perception of the company's ability to find a suitable target and complete the business combination within the extended timeframe.
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