05:28 PM EST, 12/03/2025 (MT Newswires) -- GigaCloud Technology ( GCT ) said late Wednesday it signed a definitive share purchase agreement to acquire all outstanding equity of New Classic Home Furnishings for $18 million.

The terms of the deal remain unchanged from those disclosed earlier on Oct. 24, the company said.

The deal, which will be funded entirely with GigaCloud's ( GCT ) existing cash on hand, includes a post-closing earn-out and was unanimously approved by the company's board. The purchase price reflects a debt-free valuation, the company said.

GigaCloud ( GCT ) said it expects the transaction to close on Jan. 2, 2026, pending satisfaction of customary closing conditions.