GigCapital9
GIX · Nasdaq · AI/Tech
NO ACTION REQUIRED
Nothing required today
No redemption election is on file for this SPAC. A date appears here the day one is filed.
Not a redemption window — reaching it gives you no right to cash.
Cash per share
Held for each public share, as last filed on 30 Jun.
Last close
2.3% below cash vs estimated NAV
Daily close · 9 Sept 2026
SpacBrain’s read
Floor not confirmed
No redemption window has closed — but no dated redemption election is on file for this name either, so we cannot show you a date to act by.
What we do have: no window has closed, and the deadline we compute for it runs to 27 January 2028 — our arithmetic off the IPO date and the charter term, not a date any filing we hold states. That deadline is not itself a window you can redeem into. The full chain of evidence is under Evidence.
Change on the last daily close0.0% day
That is $0.16 below the $10.15 of cash held per share as last filed — though the right to claim that cash is not confirmed on file. Against our ESTIMATE of what the trust holds today — ~$10.23, the filed figure carried forward at the T-bill — the same price is 2.3% below the cash. That estimate is our arithmetic, not a filing.
In plain terms
- What it is
- A $253M SPAC from GigCapital (Avi Katz), listed on Nasdaq in January 2026. Each unit put $10.00 into the shareholders' cash account at listing; it holds $10.15 a share today — interest earned on the account, plus any payments the sponsor made to extend the deadline, spread over the shares that never cashed out.
- What it's doing now
- It is still looking: no purchase has been announced. No filing we hold states the date it has to agree one by; our own estimate, from the IPO date and the charter term, is 27 January 2028. After that date it must ask shareholders for more time, or give the money back and close.
- What you should know
- We have no filed date on which you could claim the cash back, so we cannot tell you a day to act by. That is a gap in the public record, not a statement that the right has gone.
At a glance
- Where it stands
- Searching · next dated event 28 January 2028
- Outside date — not a date on which you can claim cash.
- Merging with
- No target announced — still searching.
- Industry
- AI/Tech
- What it set out to buy: AI/Tech
- Deal value
- not stated in the filings we hold
- Price vs cash floor
- $9.99 vs $10.15
- $0.16 below the last filed cash held for you; 2.3% below cash against our estimated ~$10.23
- Cash left in trust
- $256.8M
- IPO
- 27 January 2026
- $253M raised · 100.0% of each $10 unit into trust
- Headquarters
- 1731 EMBARCADERO RD., SUITE 200, PALO ALTO, CA, 94303
- registered in the Cayman Islands
- Lead underwriter
- D. Boral Capital LLC
- Key officers
- Katz Avi S (Chairman and Chief Executive Officer) · Omri Dagul (Director) · Avi Mizrachi (Independent Director)
- Listed securities
- GIX common · GIX common $10.00
As last filed, 30 June 2026.
source: 10-Q acc 0001193125-26-335035
Modelled, not filed: $10.15 filed 30 June 2026, compounded 72 days at the 3.95% 3-month T-bill (treasury.gov daily par yield curve). No tax drag, extension deposits or dissolution costs are modelled.
- vs last filed NAV
- 1.6%below cash
- $10.15, 10-Q as of Jun 30, 2026, acc 0001193125-26-335035
- vs estimated NAV today (our estimate)
- 2.3%below cash
- ~$10.23, accrued 72 days at 3.95%
Two denominators, one price. The filed figure is what a document says the trust held on its date; the estimate carries it forward at the T-bill for the days since, which is our arithmetic and not a filing.
A contractual long-stop for closing a deal. It is not a redemption window and gives you no right to cash. What an outside date is →
Yield to redemption
No dated redemption window on file — no yield to compute.
We hold no redemption election for this SPAC. The only dated event on file is the outside date on Jan 28, 2028, which pays a holder nothing — so no yield can be measured to it. An unsourced date would make the yield look filed when it is not.
What is protecting this price
The reasoning behind the verdict above, in the order the filings establish it.
- No dated redemption election is on file for this name. That is an absence in the record, not proof that the right has gone — but it does mean this page cannot tell you a day to act by.
- Cash held in trust is $10.15 per share as last filed. That is the figure a redemption pays out at, plus whatever interest the trust earns between the filing and the window.
- The charter runs to a date no filing we hold states; from the IPO date and the charter term we estimate 27 January 2028. Whenever it falls, if no deal closes by then the trust is returned to holders — a floor of a different kind: it pays out, but you do not choose when, and this one you should read out of the prospectus yourself.
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 27 January 2026IPOpassed
$253M raised into trust
The score
deterministic, from filed fieldsOne number for the shape of the bet: how much upside you are getting per unit of downside. It is arithmetic over filed fields, not a rating and not advice — and it is the same number this SPAC carries on the leaderboard, the screener and the deal list, because all four read one engine.
1.6% below the last filed trust — floor not confirmed — no redemption election on file
The blend is trust discount (40 points), deal stage (30), sponsor track record (18) and time to catalyst (12). Every input is a real sourced field; where one is missing, confidence drops rather than a number being invented.
The company
from SEC filingsRead the full profile
GigCapital9 Corp. is a Cayman Islands exempted blank check company, also known as a Private-to-Public Equity (PPE) company, formed by an affiliate of the serial SPAC issuer GigCapital Global for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. While the company's efforts to identify a target will not be limited to a particular industry or geographic region, GigCapital9 intends to focus on companies in the aerospace and defense services, cybersecurity and secured communications and quantum-based command and control systems, and artificial intelligence and machine-learning industries. The company is headquartered at 1731 Embarcadero Rd., Suite 200, Palo Alto, California 94303, and is led by Dr. Avi S. Katz as Chief Executive Officer and Chairman, with Christine Marshall serving as Chief Financial Officer.
GigCapital9 priced its initial public offering on January 27, 2026, raising $220 million through the sale of 22,000,000 units at $10.00 per unit, with the common stock trading on Nasdaq under the ticker GIX. Each unit consists of one Class A ordinary share and one right to receive one-fifth of one Class A ordinary share upon consummation of the initial business combination, with every five rights entitling the holder to one Class A ordinary share; no warrants are included in the unit structure. The underwriter, D. Boral Capital LLC, was granted a 45-day over-allotment option to purchase up to 3,300,000 additional units. The trust account holds $10.00 per public share. In a concurrent private placement, the sponsor GigAcquisitions9 Corp. — owned by directors Dr. Avi S. Katz and Dr. Raluca Dinu — together with six GigCapital Global advisors and non-affiliated investor Lynrock Lake Master Fund LP, subscribed to purchase 107,500 private placement units at $9.7374 per unit.
The company has 24 months from the closing of the offering to consummate its initial business combination, a period referred to as the completion window. If GigCapital9 is unable to complete a business combination within that timeframe, it will redeem 100% of its public shares at the per-share trust value, subject to applicable law and certain conditions. No business combination has been announced as of the date of the offering.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
Provides the first post-IPO financial snapshot: trust per-share value above $10.00, burn rate is manageable but working capital is only $1.49M. No progress on a target yet. The filing confirms sponsor alignment (waivers, lock-ups) and the extended deadline, but the cash runway outside trust is limited. Investors monitoring redemption mechanics and sponsor conduct will note the related party arrangements and the search-fee agreement with a director-affiliated firm.
This filing confirms the company successfully raised $253,000,000 in its January 2026 IPO. The trust per-share value is $10.06. The deadline to complete a business combination is 24 months from the IPO (January 28, 2028). The filing also details the issuance of 3,178,430 Class B shares to non-managing investors and 388,954 Class A shares via private placement units, alongside the sponsor's holdings. The company is searching for a target and has $1.8M in working capital outside the trust. There are no new developments regarding a specific target or deal.
This is the first annual report since the IPO, providing baseline financial statements and confirming the trust value, deadline, and the SPAC's status as still searching. It also details the sponsor's cost basis and lock-up provisions. Investors can verify the trust per share and deadline.
The filing permanently establishes the trust capital structure ($253,000,000 in cash-backed instruments) and locks the operational countdown to roughly January 2028, defining the absolute ceiling and timeline for shareholder redemptions absent a merger. The rigid 1/5 share conversion requirement for Rights eliminates fractional liquidity pathways outside a business combination, directly constraining secondary market valuation mechanics for GIXXR until consummation. By documenting sponsor and key investor waivers alongside private placement commitments, the structure ties insider capital recovery strictly to deal completion rather than baseline trust preservation, fundamentally shifting the traditional downside-risk allocation. The documented $30,000 monthly administrative fee and $1,677,007 in upfront transaction costs quantify the exact burn rate against non-trust working capital, determining how quickly pre-combination resources deplete during the search phase. Validation of post-offering liquidity resolves prior going-concern uncertainty, clearing the path for management to pursue the 80% fair market value acquisition threshold without immediate solventcy pressure.
For investors tracking SPAC mechanics, this filing confirms the trust value is approximately $10.00 per public share ($253,000,000 / 25,300,000 public shares). The trust is funded entirely by IPO and private placement proceeds and will only be released upon a business combination, redemption in connection with certain charter amendments, or the 24-month deadline. The filing also details sponsor economics: GigAcquisitions9 Corp. (the sponsor) acquired 7,664,427 founder shares for $25,000, later selling a portion at prices that recouped its full cost, effectively giving it a zero-cost basis in the remaining 6,472,519 founder shares, which convert to Class A shares at a 30.0334% ratio. The rights in the units expire worthless if no deal is completed by the deadline. The company states it will seek a target in aerospace/defense, cybersecurity, or AI/ML.
This filing establishes the redemption mechanics and trust value for the entire life of the SPAC. Investors now have the official trust amount ($10.00 per share, not $10.15 as in the user's metadata), the 24-month deadline (January 2028), and the 15% limitation on redemption rights if a shareholder vote is held. It also reveals extreme sponsor-favorable terms: the sponsor recouped its entire $25,000 investment via pre-IPO founder share sales, resulting in a $0 cost basis for its retained shares, while public shareholders face immediate and substantial dilution (98.6% or $9.86 per share at maximum redemption). These are critical mechanics and red flags for any investor tracking this SPAC.
Show 2 more material filings
This is the definitive S-1/A for a SPAC IPO. It establishes the redemption mechanics ($10.00 per share in trust, plus interest, subject to limitations), the 24-month deadline, and the terms of the sponsor's economics and lock-ups. The document confirms a large trust ($220M base), a stated focus on aerospace/defense and TMT, and a management team with a mixed track record across prior GigCapital SPACs (some successful, some liquidated/bankrupt). The structure involves multiple tranches of insider securities (founder shares, private placement units, private investor shares) all purchased at steep discounts to the IPO price, creating immediate and substantial dilution for public investors. The Insider Letter filed as Exhibit 10.1 contains the lock-up agreements, voting agreements, and trust account waivers.
Establishes the core contractual framework for investors: trust per-share value ($10.00 initial), 24-month deadline, redemption rights, sponsor compensation (founder shares at ~$0.00326 per share, private placement units at $9.7374), significant dilution (public shareholders pay $10.00 vs. sponsor's nominal cost), and detailed conflict-of-interest disclosures. Investors need this to assess the sponsor's incentives and the economics of the offering.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
What changed: Routine compliance exhibit — Schedule 13G beneficial ownership report. The filing states that Highbridge Capital Management, LLC is reporting beneficial ownership of GIX securities. No alteration to redemption deadlines, trust value, extension provisions, deal progress, or sponsor conduct is reported. Why it matters: According to the excerpt, Highbridge Capital Management, LLC does not disclose share quantities, acquisition dates, or investment purposes. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel, limiting its utility for assessing capital allocation timelines or redemption mechanics.
What changed: Schedule 13G/A, an amended beneficial ownership report filed on 2026-08-13 that lists AQR Capital Management, LLC, AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC as the reporting holding entities. The filing excerpt contains only the form designation, SEC accession bracket number, and affiliate entity names. It reports no updates to GIX’s redemption deadline, trust value per share, extension status, business combination target, or sponsor conduct. No change-of-control percentages, acquisition dates, or corporate governance modifications are disclosed in the text. Why it matters: This is a routine compliance exhibit confirming institutional affiliation filings rather than an operational or transactional update. Because it omits beneficial ownership thresholds, merger timelines, financial metrics, and partnership disclosures, it does not trigger redemption clock adjustments, trust revaluations, or sponsor accountability reviews. Investors tracking the SEARCHING stage, upcoming liquidation windows, or executive moves will find no actionable mechanics or substantive claims in this submission.
What changed: routine compliance exhibit — SCHEDULE 13G/A — beneficial ownership report [0001172661-26-003247]. The excerpt enumerates six reporting persons—Lighthouse Investment Partners, LLC; MAP 136 Segregated Portfolio, MAP 204 Segregated Portfolio, and MAP 214 Segregated Portfolio (segregated portfolios of LMA SPC); Shaolin Capital Partners SP (a segregated portfolio of PW MAP SPC); and Eagle Harbor Multi-Strategy Master Fund Limited—but omits all share counts, percentage thresholds, acquisition dates, and amendment narratives. Consequently, no quantifiable shift in reported beneficial ownership, voting power, or redemptible share pressure is disclosed in the provided text. Why it matters: Amended Schedule 13G filings typically reflect routine portfolio maintenance, index rebalancing, or threshold crossings that do not signal activist intent or deal-stage coordination. For GIX, which remains in a SEARCHING status, the inclusion of these multi-portfolio vehicles indicates passive accumulation or administrative reporting of founder shares/public warrants rather than active target pursuit or liquidity event preparation. Redemption deadlines, trust account distribution mechanics, extension proposals, and sponsor conduct remain dictated by management resolutions and broader publicholder sentiment, none of which are altered by this isolated roster. All entity identifications are attributed directly to the filers named in the submission. No material assertions regarding customer concentration, revenue trajectories, addressable market sizing, technological roadmaps, commercial partnerships, pending litigation, or executive leadership changes appear in the text.
What changed: Quarterly report (Form 10-Q) for GigCapital9 Corp. (GIX) for the period ended June 30, 2026, a SPAC still searching for a business combination. This is the first quarterly report since the IPO closed on January 28, 2026. Trust account funded with $253 million; as of June 30, 2026, trust value is $256.8 million (redemption value per share $10.15). Operating expenses of $636k for the six months; net income of $3.15 million from trust interest. Working capital outside trust is $1.49 million. No extension or deal announced; 24-month deadline runs to January 28, 2028. Sponsor loan of $100k settled; ongoing $30k/month admin fee; DSDG consulting agreement for Israeli targets. Going concern doubt disclosed due to reliance on business combination. Why it matters: Provides the first post-IPO financial snapshot: trust per-share value above $10.00, burn rate is manageable but working capital is only $1.49M. No progress on a target yet. The filing confirms sponsor alignment (waivers, lock-ups) and the extended deadline, but the cash runway outside trust is limited. Investors monitoring redemption mechanics and sponsor conduct will note the related party arrangements and the search-fee agreement with a director-affiliated firm.
What changed vs 2026-05-13trust $254.5M → $256.8M +1%going concern APPEAREDtrust account, going-concern doubt, redeemable shares2 moved · 1 with no prior record of ours
- Trust account
- $254.5M$256.8M
- Going-concern doubt
- not statedstated
- Redeemable shares
- 25.3M · unchanged
SpacBrain reads this as $2,254,503 was added to the trust between the two filings.
The clause …“3,993 Total current assets 1,621,578 77,874 Cash and marketable securities held in Trust Account 256,785,679 Deferred offering costs 77,954 Other assets 36,457 TOTAL ASSETS $ 258,443,714 $ 155,828 LIABILITIES, REDEEMABLE ORDINARY”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“pursuit of its Business Combination acquisition plans. These conditions raise substantial doubt about the Company s ability to continue as a going concern. There is no assurance that the Company s plans to consummate a Business”…
The clause …“outstanding as of June 30, 2026 and December 31, 2025, respectively (excludes 25,300,000 shares subject to possible redemption as of June 30, 2026) 39 Class B ordinary shares, par value of $ 0.0001 per share; 20,000,000 shares”…
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: A Schedule 13G, which the filing explicitly defines as a beneficial ownership report. The excerpt identifies Lighthouse Investment Partners, LLC, MAP 136 Segregated Portfolio, MAP 204 Seggestrated Portfolio, MAP 214 Segregated Portfolio, Shaolin Capital Partners SP, and Eagle Harbor Multi-Strategy Master Fund Limited as associated reporting vehicles. According to the document, no modifications to redemption windows, trust reserve calculations, extension elections, target acquisition timelines, or sponsor oversight protocols are recorded. Why it matters: Investors tracking liquidity triggers receive no procedural updates because the filing text contains zero numerical values, date stamps, or amendment triggers. Routine Schedule 13G filings typically document passive aggregation rather than active position building, meaning the listed entity wrappers do not mechanically accelerate early redemptions, suspend the issuer search period, or alter sponsor voting authority. The document also makes no claims regarding customer concentration, historical revenue, addressable market size, proprietary technology, strategic partnerships, executive transitions, or pending litigation, leaving reliance on prior prospectus supplements for fundamental or timeline guidance.
Show the other 10 filings
What changed: A joint filing agreement (Exhibit A) attached to an amended Schedule 13G, executed by eight Harraden Circle-affiliated entities and Frederick V. Fortmiller, Jr., consenting to file the Schedule 13G and any future amendments on behalf of each signatory under Exchange Act Rule 13d-1(k). The excerpt discloses only the signature pages and joint filing declaration; it lists no adjusted share quantities, percentage thresholds, voting or dispositive power revisions, or stated purposes. Accordingly, there is no reported modification to GIX’s trust value mechanics, redemption deadline schedule, extension pathways, deal progression, or sponsor conduct. Why it matters: The agreement formally groups multiple Harraden Circle investment vehicles under a single regulatory submission, which dictates how cumulative beneficial ownership in GigCapital9 Corp. is monitored for compliance. Because the accompanying amendment schedule containing positional data is absent from this text, the filing introduces zero information on customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. Investors tracking redemption windows, trust accounting, or merger timelines receive no new decision-relevant data beyond confirmation of joint reporting structure.
What changed: A routine Schedule 13G compliance exhibit filed by Glazer Capital, LLC and Paul J. Glazer disclosing beneficial ownership. Per the filing by Glazer Capital, LLC and Paul J. Glazer, the submission reports only the identities of the beneficial owners without attaching share quantities, ownership percentages, acquisition dates, or transaction prices. The document does not contain any statements or schedules pertaining to GigCapital9’s redemption window, trust fund valuation, extension voting mechanics, target pipeline advancement, or sponsor governance practices. Why it matters: Because the filing by Glazer Capital, LLC and Paul J. Glazer functions strictly as a periodic SEC ownership registration, it introduces no amendments to redemption deadlines, trust preservation protocols, extension triggers, acquisition pacing, or sponsor fiduciary obligations. The document also omits all assertions regarding customer concentrations, revenue run-rates, market sizing, strategic pivots, intellectual property portfolios, partnership frameworks, pending litigation, or key personnel movements. In the absence of quantitative disclosures or operational commentary, the filing provides no grounds for investors to adjust expectations around capital return timelines, target selection milestones, or sponsor conduct.
What changed: A Schedule 13G beneficial ownership report [0001172661-26-001877]. Per the filing excerpt, Aristeia Capital, L.L.C. is identified as the reporting holder on 2026-05-14; however, the text does not disclose a numerical change in shares, an ownership percentage, or any transaction activity tied to GigCapital9’s SEARCHING status, $10.15 trust/share, or 2028-01-27 deadline. Why it matters: As stated in the filing excerpt, this Schedule 13G documents beneficial ownership reporting for GigCapital9. Tracking major equity holders during a SPAC’s SEARCHING period allows investors to monitor sponsor-capitalist alignment, anticipate voting leverage ahead of the 2028-01-27 deadline, and gauge institutional comfort with the current $10.15 per-share trust valuation. The excerpt contains no substantive disclosures regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel.
What changed: Schedule 13G, a routine SEC beneficial ownership compliance exhibit. The filing identifies AQR Capital Management, LLC, AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC as joint reporting persons for GigCapital9 (GIX) securities. No share volumes, percentages, acquisition dates, or amendment references are included in the excerpt. Why it matters: This administrative submission does not alter the established $10.15 trust per share, the 2028-01-27 business combination deadline, or any extension framework. The text contains zero operational claims, revenue projections, partnership announcements, litigation details, or personnel movements. No executive, sponsor representative, or target company is cited, meaning no assertions are attributable to any source. Because the excerpt lacks quantitative thresholds or stated investment purposes, it provides no actionable signal regarding redemption pressure, sponsor fiduciary conduct, or deal search progression. Future quantitative amendments would be required to shift this baseline.
What changed: Quarterly report on Form 10-Q for the period ended March 31, 2026. This is the first 10-Q filed by GigCapital9, a newly-formed SPAC that completed its IPO on January 28, 2026. Key figures include: Trust Account of $254,531,176 (25,300,000 public shares at a redemption value of $10.06/share); cash outside trust of $1,863,122; net income of $1,252,174 (largely from interest income on the trust). The company used proceeds from the IPO and private placements to fund the trust and working capital. The IPO included the full exercise of the over-allotment option. Why it matters: This filing confirms the company successfully raised $253,000,000 in its January 2026 IPO. The trust per-share value is $10.06. The deadline to complete a business combination is 24 months from the IPO (January 28, 2028). The filing also details the issuance of 3,178,430 Class B shares to non-managing investors and 388,954 Class A shares via private placement units, alongside the sponsor's holdings. The company is searching for a target and has $1.8M in working capital outside the trust. There are no new developments regarding a specific target or deal.
What changed: a routine compliance exhibit attached to a Schedule 13G filing, specifically an internal Power of Attorney. According to the attached Power of Attorney, The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC have renewed their administrative authorization framework. Executed July 16, 2025, the instrument supersedes prior powers dated October 1, 2024 and July 29, 2024, designates nineteen specific employees individually as attorneys-in-fact to execute and deliver Rule 13f-1 and Regulation 13D-G filings, establishes a hard expiration of July 16, 2026, and preserves unilateral revocation rights. Signatory Carey Ziegler attests to the authorization as Managing Director. Why it matters: This filing carries zero mechanical weight for GigCapital9’s January 27, 2028 redemption deadline, $10.15 trust value, extension voting parameters, business combination timeline, or sponsor oversight standards. As stated by the executing parties, it functions strictly as internal secretarial housekeeping for institutional equity compliance. The text discloses no operational milestones, customer commitments, revenue figures, market sizing, technology roadmaps, partnership terms, litigation posture, or executive succession plans. Governed by New York law and limiting authority to SEC filing execution, it represents standardized regulatory maintenance with no diagnostic signal for deal progression or shareholder liquidity mechanics.
What changed: Schedule 13G beneficial ownership report listing the affiliated entities and individual Bruce M. Kallins that comprise the Yakira reporting group. The excerpt identifies the reporting group members but discloses no share counts, percentage of outstanding stock, acquisition dates, or statements of purpose. Accordingly, there is no recorded change in ownership concentration, and the filing contains no reference to GIX’s redemption windows, trust value mechanics, proposed business combination timeline, or sponsor governance. Why it matters: As a Schedule 13G, this submission confirms that the Yakira affiliates collectively cross the five-percent beneficial ownership threshold, marking them as institutional blockholders capable of influencing shareholder votes on a Business Combination, trust account amendments, or extension proposals. Because the excerpt omits the actual percentage, trading cost basis, and voting agreements, it does not signal active sponsorship engagement, target negotiation progress, or imminent redemption pressure. Monitoring subsequent amendments will reveal whether the group intends to coordinate with management on deal execution or remains a passive liquidity provider until the 2028 termination date.(flagged for human review)
What changed: Annual report on Form 10-K for fiscal year 2025, covering the period from inception (October 29, 2025) through December 31, 2025, before the January 28, 2026 IPO close. The 10-K discloses the completion of the IPO and private placement on January 28, 2026, as a subsequent event. The trust account funded with $253,000,000. No business combination target has been selected. The deadline to complete a business combination is 24 months from the IPO closing, i.e., January 27, 2028. No changes to redemption rights or sponsor arrangements were reported that differ from the IPO prospectus. Why it matters: This is the first annual report since the IPO, providing baseline financial statements and confirming the trust value, deadline, and the SPAC's status as still searching. It also details the sponsor's cost basis and lock-up provisions. Investors can verify the trust per share and deadline.
What changed: Form 8-K Current Report (Item 8.01 Other Events) accompanying an attached press release that announces the mechanical separation of the SPAC's public units into their constituent Class A ordinary shares and rights. This filing produces no changes to the redemption calendar, trust value per share, extension provisions, deal search status, or sponsor governance. It executes a routine administrative announcement permitting public unit holders to decouple the Class A ordinary shares from the underlying rights ahead of a potential business combination. Separate trading for the shares (GIX) and rights (GIXXR) begins on March 19, 2026, while units that remain undivided continue under the existing ticker (GIXXU). The filing instructs holders to have their brokers coordinate directly with Continental Stock Transfer & Trust Company to process the separation. Why it matters: The press release defines the economic terms of the separable instruments: each public unit contains one Class A ordinary share and one right to receive one-fifth of one Class A ordinary share. The company asserts that each five rights will entitle the holder to receive one Class A ordinary share upon the consummation of a business combination. D. Boral Capital LLC is cited as the sole book-running manager of the initial underwritten offering, with final prospectus copies obtainable at 590 Madison Ave., 39th Floor, New York, New York, by telephone at (212) 970-5150, or through www.sec.gov. The 'About GigCapital9 Corp.' paragraph characterizes the registrant as a Private-to-Public Equity (PPE) company operating with a Mentor-Investor methodology and a stated mission to partner with a high technology differentiating company; however, the same section accidentally reuses legacy boilerplate stating that 'GigCapital8 Corp.' aims to partner with innovative companies. The report is signed by Chief Executive Officer Dr. Avi S. Katz and lists Chief Financial Officer Christine M. Marshall as the contact at christine@gigcapitalglobal.com or (650) 276-7040. The Class A ordinary shares carry a $0.0001 par value.
What changed: This document is an 8-K current report (Item 5.02) reporting a Board-approved modification to director and executive advisory compensation. On February 5, 2026, the Board of Directors approved a standardized quarterly compensation schedule for nine named individuals—Chief Executive Officer Dr. Avi S. Katz, Dr. Raluca Dinu, Admiral (Ret.) David Ben-Bashat, Raanan I. Horowitz, Ambassador Adrian Zuckerman, Bryan Timm, Luis Machuca, and Maj. General (Ret.) Avi Mizrachi. According to the filing, each recipient will receive $4,000 per quarter prior to signing a definitive agreement with a defined business combination target, and $6,000 per quarter following the signing of such an agreement. The filing confirms the SPAC remains in a 'SEARCHING' status with the January 27, 2028 liquidation deadline, the existing redemption mechanics, and the documented $10.15 per-share trust value completely unchanged. Why it matters: The Board's February 5, 2026 resolution establishes a recurring, budgeted cash outflow specifically earmarked for identifying and investigating potential business targets, conducting due diligence, board committee service, and providing administrative and analytical support. While the per-individual amounts do not trigger a material revision to the trust balance or alteration of the $10.15 redemption floor, the approval shifts sponsor-related search expenditures from informal or undisclosed allocations to a fixed, transparent line item. This structure ensures that operational overhead tied to deal pursuit is accounted for monthly during the remaining two-year search window, and sets a predictable step-up to $6,000 per person once a definitive agreement is executed. All personnel designations, dollar figures, approval dates, and functional descriptions originate directly from the Board's authorized compensation terms as disclosed in this Item 5.02 submission.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Post-close outcome quality: 4 priced deSPACs vs trust value (prior vehicles against the $10.00 IPO baseline, in-DB vehicles against the trust they filed): median -74%, 1/4 still worth at least half of trust, 1 at under a tenth of it. Worst: QTI -98%. Best: Kaleyra -27%. 2 more delisted with no surviving quote — scored as a total loss (a known outcome, not a gap), with no % invented.
Weak record · high confidence
- GigCapital I · 2017→ KaleyraCompleted
- GigCapital2 · 2019→ UpHealthUPHCompleted
- GigCapital3 · 2020→ Lightning eMotorsZEVCompleted
- GigCapital5 · 2021→ QT ImagingQTICompleted
- GigCapital4 · 2021→ BigBear.aiBBAICompleted
- GigCapital7 · 2024→ Hadron EnergyHDRNCompleted
GigCapital — Avi Katz's prolific serial franchise. Prior-vehicle track record (SEC-verified via formerNames): (1) GigCapital I COMPLETED → Kaleyra (2019; acquired by Tata 2023). (2) GigCapital2 COMPLETED → UpHealth (2021; bankrupt). (3) GigCapital3 COMPLETED → Lightning eMotors (2021; bankrupt). (4) GigCapital4 COMPLETED → BigBear.ai (BBAI, NYSE, still listed — the standout). (5) GigCapital5 COMPLETED → QT Imaging (QTI). (6) GigCapital7 COMPLETED → Hadron Energy (HDRN, Nasdaq, 2026). Vehicles 8/9/10 searching. Net: 6 completed deSPACs; weak-to-mixed post-close (UpHealth & Lightning eMotors bankrupt; BigBear.ai the winner). Sources: SEC EDGAR submissions API (formerNames) + full-text search, efts.sec.gov. — research profile — Dr. Avi Katz is the founder, chairman, and CEO of GigCapital Global, a Palo Alto-based SPAC platform he launched in 2017 after selling his fabless semiconductor company GigOptix (NYSE: GIG) to Integrated Device Technology for $250 million. A graduate of the Israeli Naval Academy with a B.Sc. and Ph.D. in Materials Science from the Technion, Katz spent six years at AT&T Bell Laboratories before moving into executive roles across high-tech companies, including CEO stints at Intransa and Equator Technologies (sold to Pixelworks for $110 million). He holds over 70 U.S. and international patents and has authored more than 350 scientific works. GigCapital markets itself under a "Private-to-Public Equity (PPE)" and "Mentor-Investor" methodology, positioning its approach as more hands-on than a conventional SPAC, with an emphasis on guiding late-stage private companies through and beyond the de-SPAC process. The first vehicle, GigCapital1, raised $143.75 million in December 2017 and merged with Italian CPaaS company Kaleyra in November 2019. Subsequent deals include GigCapital3's merger with electric vehicle maker Lightning eMotors (ZEVY) in May 2021, GigCapital4's merger with AI specialist BigBear.ai (BBAI) in December 2021, and GigCapital5's combination with medical imaging firm QT Imaging Holdings (QTIH) in October 2021. GigCapital7 raised $200 million in September 2024 and is pending a merger with micro-reactor developer Hadron Energy. GigCapital8 raised $220 million in October 2025 and has signed a letter of intent with Quantisimo Corp., a WISeKey/SEALSQ vehicle targeting a consolidated $2 billion quantum platform. The latest vehicle, GigCapital9 (NASDAQ: GIX), priced a $220 million IPO in January 2026 (closing at $253 million with over-allotment), targeting aerospace and defense, cybersecurity, quantum systems, and AI/ML companies. Katz's board compositions across the GigCapital vehicles draw heavily on military, defense, and technology figures, including retired admirals David Ben-Bashat and Omri Dagul, retired General Avi Mizrachi, Ambassador Adrian Zuckerman, and seasoned technology executives like Bryan Timm and Luis Machuca. Christine Marshall serves as CFO across multiple vehicles. The sponsor has evolved its deal structure over time, more recently using rights instead of warrants—each unit in GigCapital9 comprises one share plus one-fifth of a right—to reduce complex derivative accounting while still offering a path to additional equity. D. Boral Capital has served as sole bookrunner on the most recent offerings, with DLA Piper as legal counsel. While the sources do not detail post-deal stock performance or redemption rates, some cautionary signals are visible. GigCapital6 reportedly slashed its planned IPO size by 43% in early 2022, cutting $150 million from its target, suggesting difficulty attracting capital in…
1 sentence withheld from the text above. It stated a vehicle count (nine vehicles) that does not reconcile with the record we counted: 7 vehicles — 1 in the live database and 6 SEC-verified prior vehicles. Neither side has been corrected here, and the stored research is unchanged; a count we cannot reconcile is not a count we will publish.
Full sponsor record →Deal team — named in the prospectus
- D. Boral Capital LLCLead-left
- Dominari Securities LLCUnderwriter
- Webull Financial LLCUnderwriter
- Bancroft Capital, LLCUnderwriter
Read from this SPAC’s own prospectus; the arrow opens the filing. Firms link to their full mandate record.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
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Unit structure
That was the figure at listing. It is $10.15 a share today — interest on the account, plus any sponsor payments made to extend the deadline, spread over the shares that never cashed out. Unit: U = S + R/5 · 100.0% of the $10 unit
from 424B4 0001193125-26-025318
Trading & liquidity
Thin book — limit orders only; a position can be hard to exit outside a redemption window.
Company profile
Directors & officers
- Katz Avi SChairman and Chief Executive Officer
- Omri DagulDirector
- Avi MizrachiIndependent Director
- Ben-Bashat DavidDirector
- Mizrachi AvrahamDirector
- Zuckerman AdrianDirector
- TIMM BRYANDirector
- MACHUCA LUISDirector
- Horowitz RaananDirector
- Dinu RalucaDirector
- Marshall Christine MChief Financial Officer
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
10 filers with a stake on file · 10 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- TENOR CAPITAL MANAGEMENT Co., L.P.8.6% · SC 13GFeb 2, 2026 fresh
- GLAZER CAPITAL, LLC8.5% · SC 13GMay 14, 2026 fresh
- Yakira Capital Management, Inc.8.5% · SC 13GApr 8, 2026 fresh
- AQR CAPITAL MANAGEMENT LLC5.7% · SC 13G/AAug 13, 2026 fresh
- GOLDMAN SACHS GROUP INC5.7% · SC 13GMay 12, 2026 fresh
- ARISTEIA CAPITAL LLC5.5% · SC 13GMay 14, 2026 fresh
- HIGHBRIDGE CAPITAL MANAGEMENT LLC5.3% · SC 13GAug 14, 2026 fresh
- MILLENNIUM MANAGEMENT LLC4.6% · SC 13GFeb 3, 2026 fresh
- Lighthouse Investment Partners, LLC4.1% · SC 13G/AAug 11, 2026 fresh
- Harraden Circle Investments, LLC0.0% · SC 13G/AMay 14, 2026 fresh
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
39 full SEC filing texts archived — searchable, never lost.
- Vault note — GIX (GigCapital9)
vault-note · /vault/tickers/GIX
Cash in trust over time
XBRL, per filingHow much cash has stood behind each share at each filing date.
Show the filed values
- 30 June 2026—
- 30 June 2026$10.15
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
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.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
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.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
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.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail5 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
Deadline DERIVED = ipoDate + 24mo (s1Terms.deadlineMonths); not proxy-verified. Extension options per charter may apply.
ipoSizeM 220->253: 25,300,000 units incl. 3,300,000 over-allotment units (full exercise) (acc 0001193125-26-031857)
trust/share $10.15 from 10-Q acc 0001193125-26-335035 as of 2026-06-30
unitSeparationDays=52 from the definitive prospectus (0001193125-26-025318). NOT FILLED: warrantStrike — no stated candidate; warrantCallPrice — no stated candidate; rightShareRatio — documents disagree ($0.2 vs $0.1) — refused
Derived: 10-K acc 0001193125-26-134550 states a 24-month completion window from the IPO closing on 2026-01-28. No filing restates it as a calendar date. Extension mechanism: shareholder-vote, from the cited filing: "If we anticipate that we may be unable to consummate our initial business combination within such 24-month period, we may seek shareholder approval to amend our amended and restated memorandum and articles of association to extend the date by which we must consummate our initial business combination." Spac.deadline currently reads 2028-01-26 — not changed by this job.