PALO ALTO, Calif. - GigCapital5, Inc. (NASDAQ: GIA) stockholders have given the green light to a business combination with QT Imaging, Inc. and QTI Merger Sub, Inc., it was announced Monday. The approval, which includes all related proposals, paves the way for QT Imaging to become a wholly owned subsidiary of GigCapital5 and be rebranded as QT Imaging Holdings, Inc.
The merger, initially agreed upon on December 8, 2022, will see QTI Merger Sub, Inc., a direct subsidiary of GigCapital5, merge with QT Imaging. This strategic move is expected to enhance QT Imaging's market position and bolster its product offerings.
The results of the stockholder vote will be officially filed with the Securities and Exchange Commission on Form 8-K today. The filing will include a detailed breakdown of the voting results, as verified by an independent inspector of elections.
This business combination comes at a time when GigCapital5 is looking to expand its portfolio and leverage QT Imaging's expertise in the medical imaging field. QT Imaging's management has expressed optimism about the future prospects of the company and the anticipated benefits of the merger.
This news article is based on a press release statement from GigCapital5, Inc.
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