Exhibit 10.7
REGISTRATION RIGHTS AGREEMENT
THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the 5th day of June, 2019, by and among GigCapital2, Inc., a Delaware corporation (the “Company”), and the undersigned parties listed under Holders on the signature page hereto (each such party, and any person or entity who hereafter becomes a party to this Agreement pursuant toSection 5.2, a “Holder” and collectively, the “Holders”).
WHEREAS, on March 12, 2019, the Company and each of GigAcquisitions2, LLC, a Delaware limited liability company (“Sponsor”) and Northland Gig 2 Investment LLC, a Delaware limited liability company (“Northland Investment”), entered into separate subscription agreements pursuant to which the Company issued and sold an aggregate of 2,500,000 shares (the “Founder Shares”) of its common stock, par value $0.0001 per share (“Common Stock”), of these, 2,378,125 Founder Shares were purchased by Sponsor and 121,875 Founder Shares were purchased by Northland Investment;
WHEREAS on April 24, 2019, the Company effected a stock dividend of 0.493 shares of Common Stock, resulting in the Sponsor and Northland Investment holding an aggregate of 3,732,500 Founder Shares;
WHEREAS, on April 29, 2019, the Sponsor and Northland Investment sold 68,041 Founder Shares, and 31,959 Founder Shares, respectively, to EarlyBirdCapital, Inc., a Delaware corporation (“EarlyBird”) and certain affiliates and employees of EarlyBird (together with EarlyBird, the “EarlyBird Group” and together with Sponsor and Northland Investment, the “Founders”);
WHEREAS,on June 5, 2019, the Company effected a stock dividend of 0.1541 shares of Common Stock, resulting in the Founders holding an aggregate of 4,307,500 Founder Shares;provided, that, up to an aggregate of 562,500 Founder Shares are subject to forfeiture by the Founders if the over-allotment option in connection with the Company’s initial public offering is not exercised in full;
WHEREAS, on June 5, 2019, the Company issued and sold 5,000 shares (the “Insider Shares”) of its Common Stock to Tara McDonough, the Company’s Vice President and Chief Financial Officer (the “Insider”) solely in consideration of future services;
WHEREAS, on June 5, 2019, the Company and the Founders entered into separate unit purchase agreements, pursuant to which the Founders agreed to purchase an aggregate of 492,500 units of the Company (or up to 567,500 units of the Company if the over-allotment option in connection with the Company’s initial public offering is exercised in full) (the “Private Placement Units”), with each such unit consisting of one share of Common Stock (all of such shares, collectively, the “Private Shares”), one right to receive one twentieth (1/20) of one share of Common Stock (the “Private Rights”) and one warrant to purchase one share of Common Stock at an exercise price of $11.50 per share (all of such warrants, collectively, “Private Warrants”), in a private placement transaction occurring simultaneously with the closing of the Company’s initial public offering;
WHEREAS, on June 5, 2019, the Company and Northland Securities, Inc., a Minnesota corporation, (“Northland”) entered into a stock purchase agreement pursuant to which Northland agreed to purchase 100,000 shares of Common Stock (or 120,000 shares if the over-allotment option in connection with the Company’s initial public offering is exercised in full) (the “Private Underwriter Shares”); and
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