GigCapital9 is a special purpose acquisition company (SPAC), also called a blank check company, formed to identify and merge with a private operating business, thereby taking it public without a traditional IPO. GigCapital9 currently has no operations or revenue — it holds $253M in trust raised through its January 2026 IPO, and has 24 months to find and close a deal. If no deal closes within that window, the trust is liquidated and cash is returned to shareholders. GigCapital9 focuses its search on aerospace and defense and technology, media, and telecom, with particular interest in cybersecurity, secured communications, quantum-based command and control, AI, and machine learning. The company is led by Dr. Avi Katz and Dr. Raluca Dinu, and is the ninth SPAC under the GigCapital Global platform. The sponsor receives founder shares at nominal cost that become valuable equity if a deal closes, but are worthless if no deal closes. GigCapital9's prior SPAC track record is mixed: completed deals include Kaleyra (later sold to Tata Communications for ~$320M), BigBear.ai (still trading), and QT Imaging (still trading), while UpHealth filed for Chapter 11 and wound down, Lightning eMotors went into receivership, and one prior SPAC liquidated without completing a deal.