GigCapital7 Corp.(GIG) - 2025 Q3 - Quarterly Report

Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $212,080, with operating expenses of $1,270,192 and other expenses from the change in fair value of warrant liability amounting to $1,115,700, partially offset by interest income of $2,173,673 [102]. - For the nine months ended September 30, 2025, the company achieved a net income of $2,950,220, driven by interest income of $6,408,004, offset by operating expenses of $2,026,618 and other expenses from the change in fair value of warrant liability of $1,431,815 [105]. Cash and Securities - As of September 30, 2025, the company held cash and marketable securities totaling $209,596,708 in the Trust Account, with $200,000,000 of these funds designated for acquisition purposes [107]. - The company incurred cash used in operating activities of $938,824 for the nine months ended September 30, 2025, primarily due to interest earned on marketable securities and various increases in liabilities [108]. Going Concern - The company has a working capital deficit of $561,564 as of September 30, 2025, raising substantial doubt about its ability to continue as a going concern without additional financing [112]. Business Strategy - The company plans to utilize funds from the Trust Account for acquiring target businesses and covering related expenses, with expectations that interest earned will be sufficient to cover any income taxes [110]. - The company is pursuing a business combination with Hadron Energy, Inc., an innovator in micro reactor technology, and plans to change its name upon completion of this transaction [96]. Administrative and Financial Obligations - The company has entered into agreements to pay monthly fees of $30,000 for administrative services and $20,000 for accounting services, but has no long-term debt or capital lease obligations [116]. - The company has not engaged in any off-balance sheet financing arrangements or established special purpose entities as of September 30, 2025 [115]. Accounting and Reporting - The company has elected not to opt out of the extended transition period under the JOBS Act, allowing it to adopt new or revised accounting standards at the same time as private companies [118]. - The company’s diluted net income (loss) per share is the same as basic net income (loss) per share due to unsatisfied contingencies associated with public and private placement warrants [120]. - The company accounts for warrants not indexed to its own shares as liabilities at fair value, with changes in fair value recognized as other income (expense) [122]. Risk Management - As of September 30, 2025, the company was not subject to any market or interest rate risk, with funds held in the Trust Account invested in U.S. government securities [123].