GigCapital5 said its redemption dead;lines has been extended to 5 p.m. today due to a procedural error by the SPAC’s trustee, which failed to collect written requests to cash out stock, accrding to the filing.
The extension comes aehad of this month’s shareholder meeting to vote on the proposed merger with QT Imaging. The target develops systems and technology to improve image screening for breast cancer.
The parties in September amended the business combination agreement to remove the $15 million minimum cash condition to close.
At deal announcement in December 2022 the transaction had an equity value of $151 million. Read more.
