GigCapital5, Inc.

GigCapital5, Inc. is a blank-check company (SPAC) that raised $200M in its initial public offering on Sep 27, 2021, listing on New York Stock Exchange. It completed its business combination with QT Imaging, Inc. on Mar 4, 2024; the combined company is QT Imaging Holdings, Inc. (QTI). Wells Fargo led the IPO, with William Blair. DLA Piper advised the SPAC and Ellenoff Grossman & Schole advised the underwriters on the IPO.

QT Imaging researches, develops and commercializes an automated imaging system that produces high-resolution transmission ultrasound images. Its QT Imaging Breast Scanner has FDA 510(k) clearance, and clinical trials have been run at institutions in the US and Europe.

Status

Merger completed

IPO date

Sep 27, 2021

IPO size

$200M

IPO exchange

New York Stock Exchange

Target

QT Imaging, Inc.

Announced

Dec 12, 2022

Closed

Mar 4, 2024

Combined company

QT Imaging Holdings, Inc. (QTI)

IPO underwriters

Wells Fargo and William Blair

SPAC counsel (IPO)

DLA Piper

Underwriters' counsel (IPO)

Ellenoff Grossman & Schole