GigCapital5 amends SPAC merger with QT Imaging to fix excess expense share conversion at $10.00

QT IMAGING HOLDINGS, INC.

Fifth Amendment to Business Combination Agreement signed Feb 2, 2024.
Redefines 'Aggregate Excess Company Transaction Expenses Shares' as excess expenses divided by $10.00 per share.
Parties: GigCapital5 (GIA), QT Imaging, Inc., and Merger Sub QTI Merger Sub, Inc.
Previous amendments: 1st (May 2023), 2nd (Sep 2023), 3rd (Nov 2023), 4th (Nov 2023).
All other BCA terms remain unchanged; deal involves QT Imaging merging into GigCapital5.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

QT IMAGING HOLDINGS, INC. entered into Fifth Amendment to Business Combination Agreement with GigCapital5, Inc. valued at amended definition of Aggregate Excess Company Transaction Expenses Shares (effective 2024-02-02).

Action: entry
Agreement: merger
Counterparty: GigCapital5, Inc.
Value: amended definition of Aggregate Excess Company Transaction Expenses Shares
Effective: 2024-02-02

Exact text from the filing

On February 2, 2024, GigCapital5 entered into that certain Fifth Amendment to Business Combination Agreement (the “ BCA Amendment ”), which amended the definition of “Aggregate Excess Company Transaction Expenses Shares” to mean solely a number of shares of GigCapital5 Common Stock equal to the quotient of (a) the amount of Company Transaction Expenses in excess of the Company Transaction Expenses Cap, if any, divided by (b) $10.00, and rounded up the nearest whole share.

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QT IMAGING HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-024857

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