QT Imaging Holdings, Inc. plans to begin trading on the Nasdaq market under the ticker symbol “QTI” on March 5, 2024.
Palo Alto, California, February 29, 2024–(BUSINESS WIRE)–GigCapital5, Inc. (“GigCapital5”, Nasdaq: GIA), a private equity-to-public equity (PPE)™ entity also known as a special purpose acquisition company (“SPAC”), announced today , announced the following: Our previously announced business combination with QT Imaging, Inc. (“QT Imaging”), a technology company engaged in an innovative automated breast imaging system that produces high-resolution transmission ultrasound images (“Business Combination”) ”) is completed. The Business Combination was approved at the annual general meeting of GigCapital5 shareholders on February 20, 2024. Upon completion of the Business Integration, the combined company will be renamed QT Imaging Holdings, Inc. (“QT Imaging Holdings”). QT Imaging Holdings' common stock is expected to begin trading on the Nasdaq on March 5, 2024 under the new ticker symbol “QTI.”
QT Imaging is a medical device company dedicated to researching, developing, and commercializing innovative body imaging systems using low-energy sound. Supported by a team with strong roots in the medical device and healthcare industry, QT Imaging's technology leverages unprecedented detection and monitoring capabilities and pre-market FDA clearance, making it safe and affordable. Easy-to-use treatments are poised to address critical healthcare challenges with precision and accuracy. accuracy. We are well-positioned to take advantage of significant growth opportunities in the patient, healthcare professional and teaching hospital markets.
Dr. John Klock, Chief Executive Officer of QT Imaging, said: “The completion of our business combination with GigCapital5 and our emergence as a publicly traded company is a milestone achievement for QT Imaging, one that did not come without great effort. This is an accomplishment that would not have been possible.” The work and focus of our dedicated employees and the support of our partner, his GigCapital5. ”
Dr. Raluca Dinu, founding managing partner of GigCapital Global and CEO of GigCapital5, said: “The GigCapital team is extremely proud to have completed the fifth business combination of GigCapital5 and QT Imaging. I will be fully committed to my mission of leading an excellent team like QT.” Imaging, on its path to becoming a major public company, will actively support QT Imaging's growth as a member of the Board of Directors and in any other capacity needed as QT Imaging enters its next phase of innovation. We are pleased to continue to support you. We believe we are well-positioned to meet rapidly growing customer demand for solutions that enhance medical imaging for critical detection, diagnosis and treatment of disease. ”
said Dr. Avi Katz, Founding Managing Partner of GigCapital Global and Chairman of the GigCapital5 Board of Directors. PPE)™ method and our mission to engage companies that improve the quality of life and equality for the planet's inhabitants, and actively partner with leading innovators and differentiators in privately held high-tech companies. Working on the next chapter of their journey. As a rapidly growing listed company. ”
advisor
Exit Strategy Partners, LLC introduced the parties and advised QT Imaging, Inc. on the transaction. Brown Rudnick LLP is acting as legal advisor and BPM LLP is acting as QT Imaging's auditor. GigCapital5's capital markets advisor is William Blair, its legal advisor is DLA Piper LLP (USA), and its auditor is BPM LLP.
About QT Imaging Holdings
QT Imaging is a medical device company founded in 2012 that researches, develops, and commercializes innovative body imaging systems using low-energy sound. QT Imaging believes that medical imaging is essential to detecting, diagnosing, and treating disease and must be safe, affordable, and accessible, and our goal is to develop images that address important medical challenges. To improve global health outcomes through device development and commercialization. With accuracy and precision. For more information, please visit http://QTimaging.com.
About GigCapital5
GigCapital5, Inc. is a private-to-public equity (PPE)™ company focused on technology, media, telecommunications (TMT) and sustainable industries, and is a blank check company or special purpose acquisition company (SPAC). ) also known as This entity was formed by GigFounders, LLC, a member company of GigCapital Global, and sponsored by GigAcquisitions5, LLC formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar undertaking. it was done. A combination with one or more businesses.
“Private-to-Public Equity (PPE)” is a trademark of GigFounders, LLC, an affiliate of GigCapital5 and is used pursuant to agreement.
Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the business combination of GigCapital5 and QT Imaging Holdings. I am. The completion of these transactions and the expectations, hopes, beliefs, intentions, plans, prospects or strategies of QT Imaging Holdings' management regarding the future (including potential business combinations, revenue growth and financial performance, product expansion and services) including). Statements contained herein that are not statements of historical fact are deemed forward-looking statements. Additionally, statements that make predictions, projections or other characterizations of future events or conditions, including underlying assumptions, are forward-looking statements. “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, The words “may”, “could”, “anticipate”, “predict”, “should”, “will” and similar expressions are forward-looking statements. Although they may be identifiable, the absence of these words does not mean that the statement is not forward-looking. The forward-looking statements contained in this press release are made by the management of GigCapital5 and QT Imaging in light of their respective experience and perception of historical trends, current conditions, expected future developments and their potential impact. Based on your current expectations and beliefs. Consider QT Imaging and GigCapital5, as well as other factors that may be appropriate for your situation. There can be no assurance that future developments affecting QT Imaging Holdings or GigCapital5 will be what we anticipate. These forward-looking statements are subject to a number of risks, uncertainties, some of which could cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. or other assumptions beyond the control of the parties. These include regulatory approvals, the combined company's ability to meet Nasdaq listing standards, acceptance of products and services, and that QT Imaging Holdings has sufficient capital to operate as expected. If one or more of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, actual results may differ from those anticipated in these forward-looking statements. may differ in important respects. Other factors that could cause actual results to differ are described under the heading “Risk Factors” and other sections of GigCapital5's filings with the SEC and GigCapital5's current and This is explained in the periodic report. All forward-looking statements in this press release are made based on information available to GigCapital5 and QT Imaging Holdings as of the date of this press release, and GigCapital5 and QT Imaging Holdings do not warrant any forward-looking statements. We have no obligation to update it. as a result of new information, future events or otherwise, except as required by applicable securities laws.
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