GigCapital5 and QT Imaging announced today that they have entered into an exclusive, non-binding term sheet, with the goal of completing a business combination in the first half of 2023.
QT is a medical imaging company that develops novel products for body imaging.
SPAC Chairman Dr. Avi Katz is founding managing partner of GigCapital Global.
GigCapital5 said last week it had deposited $160,000 into its trust account for a one-month merger extension period until Oct. 28. In addition, the SPAC said it extended a working capital promissory note to its sponsor for $65,000. The promissory note is non-interest bearing.
Dr. Katz’s SPAC raised $200 million in a September 2021 IPO. Read more.
