GigCapital5 Announces QT Imaging Acquisition and Partnership

GigCapital5 (GIA) has released an update.

GigCapital5, a Delaware corporation, is set to acquire QT Imaging through a merger, with QT Imaging continuing as the surviving entity. This strategic move will result in QT Imaging becoming a wholly-owned subsidiary of GigCapital5, which will be rebranded as QT Imaging Holdings, Inc. Furthermore, QT Imaging has solidified its market position by appointing NXC, a subsidiary of Canon Medical Systems USA, as a non-exclusive sales agent and exclusive servicer for its products in certain territories. Moreover, QT Imaging has received a letter of intent from Canon for the purchase of two QT scanners, with partial payment already made and the remainder due by April 2024, leading to a feasibility study and potential further collaboration. GigCapital5 has also updated its proxy statement to reflect these developments, with no changes to the annual meeting’s schedule or voting procedures.

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For a comprehensive understanding of the announcement, you can read the full document here.