GigCapital5, Inc. (Nasdaq: GIA), a special purpose acquisition company (SPAC), announced today that the completion of their business combination with QT Imaging, Inc. will take place on March 4, 2024. Upon completion, the combined company will be renamed QT Imaging Holdings, Inc. (QT Imaging Holdings) and its shares of common stock will trade on the Nasdaq under the ticker symbols “QTI” starting March 5, 2024.
QT Imaging is a medical device company focused on innovative body imaging systems using low energy sound. With premarket FDA clearance and a team experienced in the medical device and healthcare industries, QT Imaging aims to address critical healthcare challenges with accuracy and precision.
Dr. John Klock, CEO of QT Imaging, expressed excitement about the merger, highlighting it as a significant milestone for the company. Dr. Raluca Dinu, Founding Managing Partner of GigCapital Global and CEO of GigCapital5, emphasized their commitment to supporting QT Imaging’s growth. Dr. Avi Katz, Founding Managing Partner of GigCapital Global and Executive Chairman of the Board of GigCapital5, highlighted the partnership’s alignment with their mission to improve global health outcomes.
Exit Strategy Partners, LLC advised QT Imaging in the transaction, with legal counsel provided by Brown Rudnick LLP and auditing by BPM LLP. William Blair served as Capital Markets Advisor, DLA Piper LLP (US) as legal counsel, and BPM LLP as auditors to GigCapital5.
