GIK.U GigCapital3 Inc

Upon the effectiveness of the Registration Statement on May 13, 2020, and as described in the prospectus that forms a part of the Registration Statement, the Company issued 5,000 shares of Common Stock, solely in consideration of future services, to each of Brad Weightman, the Company’s Vice President and Chief Financial Officer, Peter Wang, the Company’s Software Chief Technical Officer, and Andrea Betti-Berutto the Company’s Hardware Chief Technical Officer, pursuant to each of the Insider Shares Grant Agreements identified above (collectively, the “Insider Shares Grants Agreements”). Messrs. Wang and Betti-Berutto are not officers or employees of the Company; their respective titles of Software Chief Technical Officer and Hardware Chief Technical Officer reflect their core competencies and expertise and are primarily for marketing purposes as they assist the Company to identify suitable business combination candidates. The material terms of the Insider Shares Grant Agreements are set forth in the Registration Statement and incorporated by reference herein.

Simultaneously with the closing of the IPO and the sale of the Public Units, the Company consummated the private placement (“Private Placement”) of (i) 893,479 units (the “Private Placement Units”), at a price of $10.00 per Private Placement Unit, with each of the Sponsor and Underwriters, pursuant to the respective Unit Purchase Agreements identified above (collectively, the “Unit Purchase Agreements”). Sponsor purchased 650,000 Private Placement Units; and the Underwriters purchased 243,479 Private Placement Units in the aggregate. The Private Placement generated aggregate gross proceeds of $8,934,790 consisting of $6,500,000 from the sale of the Private Placement Units to the Sponsor and $2,434,790 from the sale of the Private Placement Units to the Underwriters. The Private Placement Units are substantially similar to the Public Units, except for certain differences in the warrants included in the Private Placement Units (the “Private Warrants”). Unlike the Public Warrants, the Private Warrants (i) are not redeemable by the Company and (ii) may be exercised for cash or on a cashless basis so long as they are held by the Sponsor, the Underwriters or any of their respective permitted transferees. In addition, for as long as the Private Warrants are held by the Underwriters or their respective designees or affiliates, they may not be exercised after five years from the effective date of the Registration Statement. The material terms of the Unit Purchase Agreements are set forth in the Registration Statement and incorporated by reference herein.