GigCapital5 enters non-redemption agreements covering 1.36M shares for extension vote

QT IMAGING HOLDINGS, INC.

Public stockholders holding 1,359,229 shares agree not to redeem at Dec 28 special meeting for extension to March 31, 2024.
In exchange, QT Imaging will issue shares at business combination closing; formula: months since Dec 31, 2023 × 0.02.
Meteora Capital Partners LP is among the non-redeeming stockholders and has an economic interest in the sponsor.
Previously submitted redemption demands will be reversed; holders have no further transfer restrictions beyond the meeting.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

QT IMAGING HOLDINGS, INC. entered into December 2023 Non-Redemption Agreement with Public Stockholders valued at Public Stockholders agreed not to redeem 1,359,229 shares; QT Imaging will issue QTI Shares calculat (effective 2023-12-19).

Action: entry
Counterparty: Public Stockholders
Value: Public Stockholders agreed not to redeem 1,359,229 shares; QT Imaging will issue QTI Shares calculat
Effective: 2023-12-19

Exact text from the filing

On December 19, 2023, GigCapital5, Inc. (“ GigCapital5 ”) and QT Imaging, Inc. (“ QT Imaging ”) entered into separate agreements (each, a “ December 2023 Non-Redemption Agreement ”, and collectively, the “ December 2023 Non-Redemption Agreements ”) with certain of the public stockholders of GigCapital5 (each, individually, a “ Public Stockholder ”, and collectively, the “ Public Stockholders ”) eligible to redeem their respective shares of common stock of GigCapital5 (“ GigCapital5 Common Stock ”) at the upcoming special meeting of stockholders of GigCapital5 scheduled for December 28, 2023 (the “ December 2023 Meeting ”).

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25 material agreements filed in the last 30 days. Browse all material agreements →

QT IMAGING HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-298699

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