GigCapital7 Corp.(GIGGU) - 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]. - As of September 30, 2025, the company reported a working capital deficit of $561,564 and cash of $405,404 held outside the Trust Account, raising concerns about its ability to continue as a going concern [112]. - The company plans to use 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]. Business Operations - The company has no operating revenues to date and does not expect to generate any until after the completion of its initial business combination [101]. - The company has not engaged in any operations or generated revenues since its inception, focusing solely on organizational activities and identifying target businesses for acquisition [101]. - The company has incurred significant costs related to its acquisition plans and expects to continue doing so as it pursues its business combination [100]. Financing and Warrant Information - The company intends to utilize cash from its initial public offering and private placement warrants to finance its initial business combination, with each public warrant exercisable for one Class A ordinary share at a price of $11.50 [99]. - 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]. - As of September 30, 2025, the company had 20,000,000 Class A ordinary shares issued and outstanding, which are subject to possible redemption [121]. Administrative Expenses - The company has entered into agreements to pay monthly fees of $30,000 for office space and administrative services, and $20,000 for accounting services, as of September 30, 2025 [116]. Regulatory and Risk Factors - 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]. - 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].