GigaCloud Technology Inc Enters Definitive Share Purchase Agreement to Acquire New Classic Home Furnishings

Rhea-AI Summary

GigaCloud Technology (Nasdaq: GCT) entered a definitive Share Purchase Agreement to acquire 100% of New Classic Home Furnishings for $18 million on a debt-free basis, including a post-close earn-out. The terms remain unchanged from the October 24 disclosure.

The transaction will be funded from GigaCloud's existing cash on hand, has unanimous board approval, and is expected to close on January 2, 2026, subject to customary closing conditions.

Positive

• $18 million total consideration for full equity acquisition
• Acquisition of 100% equity in New Classic Home Furnishings
• Transaction funded from existing cash on hand
• Unanimous approval by GigaCloud Board of Directors

Negative

• Uses $18 million of company cash on hand
• Deal includes a post-close earn-out (contingent obligation)
• Closing is subject to customary conditions and may not complete

EL MONTE, Calif., Dec. 03, 2025 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that it has entered into a definitive Share Purchase Agreement to acquire 100% of the outstanding equity of New Classic Home Furnishings, Inc.

The terms of the agreement remain unchanged from those previously disclosed on October 24, with a total consideration of $18 million on a debt-free basis, including a post-close earn-out. The transaction will be funded from GigaCloud’s existing cash on hand. The Board of Directors of GigaCloud has unanimously approved the transaction.

The transaction is expected to close on January 2, 2026, subject to satisfaction of customary closing conditions.

About GigaCloud Technology Inc

GigaCloud Technology Inc is a pioneer of global end-to-end B2B technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, which it refers to as the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. The Company offers a truly comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories such as home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/.

Forward-Looking Statements

This press release contains “forward-looking statements.” Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

GigaCloud Technology Inc

Investor Relations – ir@gigacloudtech.com

PondelWilkinson, Inc.

Laurie Berman (Investors) – lberman@pondel.com

George Medici (Media) – gmedici@pondel.com

Todd Kehrli (Investors) – tkehrli@pondel.com

FAQ

What is GigaCloud's acquisition announced on December 3, 2025 (GCT)?

GigaCloud agreed to acquire 100% of New Classic Home Furnishings for $18 million on a debt-free basis, including a post-close earn-out.

How will GigaCloud (GCT) pay for the New Classic Home Furnishings acquisition?

The transaction will be funded from GigaCloud's existing cash on hand.

When is the GigaCloud (GCT) acquisition of New Classic Home Furnishings expected to close?

The transaction is expected to close on January 2, 2026, subject to customary closing conditions.

Did GigaCloud's board approve the acquisition of New Classic Home Furnishings (GCT)?

Yes. The Board of Directors of GigaCloud unanimously approved the transaction.

Are the terms of the GigaCloud (GCT) acquisition different from the October 24 disclosure?

No. The terms remain unchanged from those previously disclosed on October 24.