Blank-Check GigCapital9 Signs LOI for $600M Carbon Capture Deal
Summary
GigCapital9 signed a non-binding LOI to combine with a private clean energy company focused on post-combustion carbon capture. The target carries a pre-money enterprise value of about $600 million, plus an earnout of up to $100 million. The deal needs at least $50 million of PIPE financing at closing, roughly half expected from the target's existing investors and the rest from new ones. Nothing is binding yet: due diligence, definitive agreements, financing, regulatory and exchange review, and shareholder approvals all remain, with completion targeted for late Q2 2027. For a $10 trust-heavy SPAC, the LOI is the first real sign of a deal, but the long timeline and non-binding status leave plenty of room for it to fall apart.
At the time of this announcement, GIX was trading at $10.00 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $365.5M. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.