GigCapital9 Signs Non-Binding LOI for $600 Million Clean Energy Deal

GigCapital9 Corp. (Nasdaq: GIX) has entered into a non-binding Letter of Intent with an unnamed clean energy technology company to pursue a business combination. The proposed transaction values the target at approximately $600 million in pre-money enterprise value, subject to customary closing conditions, and includes a potential earnout of up to $100 million.

The target company focuses on post-combustion carbon capture solutions and is led by a team with experience in the energy and chemical industries. According to the announcement, the company is supported by a network of tier-one energy strategic and industrial partners. The deal is intended to bring the technology to public capital markets to support clean, firm power applications driven by artificial intelligence demand.

The parties are targeting the completion of the business combination and resulting deSPAC transaction in late Q2 2027. This timeline is an objective subject to the completion of due diligence, definitive documentation, financing, regulatory and stock exchange review, and shareholder approvals. The LOI specifies a minimum of $50 million in PIPE financing available at closing. The target company expects to source about half of this amount from existing investors, with the remainder coming from new investors, subject to definitive financing commitments.

Dr. Avi S. Katz, Executive Chairman and Chief Executive Officer of GigCapital9, stated that the proposed combination extends the firm’s Private-to-Public Equity Mentor Investor model. He noted that the mission is to identify deep technology companies and help create public company platforms to scale their technologies. Katz described advanced clean energy technologies as having the potential to reduce environmental footprints in the power industry while contributing to economic development and societal equity.

The transaction remains subject to negotiation and execution of definitive agreements, satisfactory completion of due diligence, applicable financing arrangements, and required regulatory and stock exchange reviews. The parties cannot guarantee that they will sign final contracts or that the deal will close. Further details on financial terms, structure, and timing will be released only if definitive agreements are executed.