GigCapital5 today announced its shareholders voted in favor of the business combination with QT Imaging. The vote was unanimous with 8,136,762 shares cast in support of the deal.
Neither the press release announcing the vote nor the 8-K outlining the results made mention of redemptions, if any.
The deal was announced in December 2022 with terms calling for the combined company to receive approximately $41 million in gross proceeds from GigCapital5’s trust, which assumed no redemptions, and up to $26 million in additional financing.
The SPAC and QT Imaging last year removed the $15 million minimum cash condition to close.
QT Imaging develops systems and technology to improve image screening for breast cancer.
The SPAC has until March 31 to close. Read more.
