Welcome to our dedicated page for GIAC news (Ticker: GIAC), a resource for investors and traders seeking the latest updates and insights on GIAC stock.
Gesher I Acquisition Corp. (GIAC) is a blank check company focused on identifying international merger and acquisition opportunities, particularly involving Israeli businesses with global operations. This page serves as the definitive source for tracking GIAC's strategic moves, offering investors and analysts centralized access to official updates.
Key resources include: Timely press releases on potential business combinations, SEC filings related to capital deployment, and leadership announcements from its experienced management team. Users will find updates on mergers, share exchange developments, and regulatory milestones critical for assessing this SPAC's progress.
The curated news collection enables stakeholders to monitor GIAC's flexible acquisition strategy across multiple industries and regions. All content is sourced from official channels to ensure compliance with financial disclosure standards. Bookmark this page for streamlined tracking of GIAC's pursuit of value-creating partnerships in global markets.
Freightos Limited reported strong second-quarter 2022 results, with Gross Booking Value (GBV) reaching $155 million, up 137% year-over-year. Revenue increased by 30% to $5.2 million. The platform processed 150k transactions, marking a 163% rise from the previous year. CEO Zvi Schreiber highlighted the growth despite macroeconomic challenges, including falling freight prices and global disruptions. Freightos is set to merge with Gesher I Acquisition Corp (NASDAQ: GIAC), with plans to go public in late 2022 or early 2023.
LATAM Cargo has become the first South American carrier to offer real-time bookings via WebCargo by Freightos, expanding digital air cargo services. This partnership allows over 3,500 forwarders to access LATAM Cargo's capacity across 27 lanes, enhancing supply chain reliability and efficiency. LATAM Cargo serves over 135 destinations in more than 20 countries and aims to improve customer options as part of its digitalization strategy. Additionally, Freightos plans to go public on NASDAQ under the ticker GIAC following a business combination agreement.
Freightos Limited announced its merger with Gesher I Acquisition Corp. (NASDAQ: GIAC), set to go public under the ticker 'FROS'. This merger, valued at approximately $435 million, highlights Freightos' growth with a 213% CAGR in gross booking value from Q1 2019 to Q1 2022. The transaction secured $80 million in capital commitments from high-profile investors, including Qatar Airways. Freightos aims to revolutionize the $1.8 trillion digital freight market, enhancing supply chain transparency and efficiency.
Gesher I Acquisition Corp. (NASDAQ: GIAC) has secured a $10 million backstop commitment from Composite Analysis Group, Inc. to support shareholder redemptions linked to its initial business combination. This follows a previous backstop commitment and is part of Gesher's strategy to ensure adequate capital. Composite will receive 1,000,000 ordinary shares at $10 each and 100,000 warrants upon closing. The company aims to build on its strong investor relationships and capitalize on market opportunities, particularly focusing on international businesses in Israel.
Gesher I Acquisition Corp. (NASDAQ: GIAC) has amended its forward purchase agreement with M&G Japan Equity Fund. M&G will purchase 4 million units at $10.00 each, totaling $40 million. Additionally, M&G commits to backstop $10 million in shareholder redemptions during a business combination. They agree not to exercise redemption rights on these shares. This investment reflects M&G's confidence in Gesher's management and its investment philosophy. The transaction aims to strengthen Gesher's financial position for future acquisitions.
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