GigCapital5 (GIA) has released an update.
In a sweeping show of support, stockholders at the Annual Meeting overwhelmingly ratified a series of proposals integral to the company’s future. They green-lit the Business Combination Agreement with QT Imaging, Inc., authorizing a merger and the associated issuance of common stock. Additionally, they voted for the amendment of the company’s Charter, which included increasing share capital, renaming the company to QT Imaging Holdings, Inc., and reclassifying the Board of Directors. The stockholders also backed the election of seven directors and approved both the issuance of a significant amount of common stock in connection with the Business Combination and a substantial financing arrangement with Yorkville. Finally, they gave their nod to the new 2024 Equity Incentive Plan, setting the stage for the company’s next growth phase.
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