GigCapital7 Corp.(GIG) - 2024 Q3 - Quarterly Report

Financial Performance - For the three months ended September 30, 2024, the company reported a net income of $610,950, which included operating expenses of $213,755 and interest income of $989,729 [88]. - From May 8, 2024, to September 30, 2024, the company had a net income of $546,549, with total operating expenses of $278,157 [89]. - Cash used in operating activities from May 8, 2024, to September 30, 2024, was $528,479, primarily due to an increase in liabilities and operating expenses [92]. Cash and Securities - As of September 30, 2024, the company held cash and marketable securities amounting to $200,989,729 in the Trust Account [91]. - As of September 30, 2024, the company had cash of $2,006,512 held outside the Trust Account, which may be used for operational expenses if necessary [95]. - The company raised net proceeds of $198,680,159 from the sale of public units in the Offering, after deducting offering expenses of approximately $1,319,841 [90]. Business Operations - The company has not engaged in any operations or generated revenues to date, focusing solely on organizational activities and preparing for the Offering [88]. - The company intends to use substantially all funds in the Trust Account for acquiring target businesses and covering related expenses [93]. - The company expects to incur significant costs in pursuing acquisition plans and cannot assure the success of raising capital or completing its initial business combination [87]. Shareholder Information - As of September 30, 2024, there were 20,000,000 shares of Class A ordinary shares issued and outstanding, subject to possible redemption [105]. Financial Instruments - The company accounts for warrants for ordinary shares not indexed to its own shares as liabilities at fair value on the condensed balance sheet [106]. - Changes in the fair value of these warrants are recognized as a component of other income (expense) on the condensed statement of operations and comprehensive income [106]. Risk Management - As of September 30, 2024, the company was not subject to any market or interest rate risk [107]. - Funds held in the Trust Account are only to be invested in U.S. government treasury bills, bonds, or notes with a maturity of 185 days or less [107]. - The company believes there will be no associated material exposure to interest rate risk due to the short-term nature of these investments [107].