Aug. 8 at 9:31 PM
$GIG Analyzing GIG’s 10-Q
• Operating expenses are way up –
$384.6K for Q2 2025 vs just
$64.4K in the same 2024 period . For a SPAC, that kind of jump usually means more legal, financial, and travel costs tied to due diligence and target evaluation.
• Administrative costs are fixed –
$30K/month to GigManagement and
$20K/month to the CFO were disclosed . That’s
$300K in fixed costs per half-year, meaning roughly
$450K+ of the YTD spend is above normal overhead — the likely DD/professional services component.
• Cash outside trust fell sharply – From
$1.34M at Dec 31, 2024 to
$610.7K at June 30, 2025 . That burn rate indicates they’re using their working capital, not just sitting on it.
Put together, the numbers look like they’re actively paying for deal-related work — lawyers, bankers, accountants — rather than just coasting. That usually means they’re in the middle of evaluating one or more targets, even if they haven’t hit the “announce” stage.
