GIK SEC filings, in plain English
Everything GigCapital3, Inc. has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
The feed
live EDGAR captureNew filings appear here within minutes of hitting EDGAR; summaries follow once the pipeline has read them.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause …“Company's ASC 205-40 analysis, due to uncertainties discussed above, there is substantial doubt about the Company's ability to continue as a going concern through the next twelve months from the date of issuance of these consolidated”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause …“Company's ASC 205-40 analysis, due to uncertainties discussed above, there is substantial doubt about the Company's ability to continue as a going concern through the next twelve months from the date of issuance of these consolidated”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Lightning eMotors, Inc. (successor to SPAC GigCapital3) set a special meeting for Thursday, August 24, 2023 at 9:00 a.m. Mountain time at its Loveland, Colorado offices, record date July 7, 2023. Proposal 1 seeks approval under NYSE Rule 312.03(c) to issue shares to Yorkville in excess of 1,124,782 shares, being 19.99% of outstanding stock. Under the facility, within three trading days of a trigger event it must pay Yorkville a monthly cash payment of $1,000,000 plus accrued unpaid interest and a 7% redemption premium, repeating every 30 days. Why it matters: A trigger event converts the Yorkville facility from equity financing into a $1,000,000-a-month cash drain plus a 7% redemption premium, an obligation a company already burning cash and posting net losses is poorly placed to meet. Approving issuance above the 19.99% NYSE threshold is the alternative to paying that cash, so holders are effectively voting to be diluted instead. Without approval the Yorkville exchange cap binds and no further pre-paid advances can be drawn even if the share price recovers, cutting off the financing line entirely.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause …“available, will be on terms that are acceptable to us. Accordingly, there is substantial doubt about our ability to continue as a going concern, which may affect our ability to obtain future financing and may require us to further”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.