QT Imaging Completes Business Combination with GigCapital5

QT Imaging Holdings and GigCapital5 announced the completion of their business combination, which the SPAC's shareholders approved last month.

Upon completion, QT Imaging Holdings shares now trade on the Nasdaq under the new ticker QTI.

QT Imaging is a medical device company engaged in the research, development, and commercialization of innovative body imaging systems using low frequency sound waves. The technology is used to improve image screening for breast cancer.

GigCapital5 shareholders approved the deal on a unanimous vote.

The merger was announced in December 2022 with terms calling for the combined company to receive approximately $41 million in gross proceeds from GigCapital5's trust, which assumed no redemptions, and up to $26 million in additional financing.

The SPAC and QT Imaging last year removed the $15 million minimum cash condition to close. Read more.

Source: QT Imaging Completes Business Combination with GigCapital5