8-K
filed March 8, 2024, 6:59 PM ET
ticker QTI
CIK 0001844505
M&A
confidence high
sentiment neutral
materiality 0.85
QT Imaging Holdings closes SPAC merger with GigCapital5; QTI begins trading on Nasdaq
QT IMAGING HOLDINGS, INC.
- 848,003 public shares redeemed at ~$11.03/share for aggregate ~$9.36 million.
- Post-combination: 21,437,216 common shares outstanding; 23,889,364 warrants; 9,000,000 earnout shares reserved.
- Sponsor GigAcquisitions5 LLC holds 33.7% of common stock; directors and officers group holds 46.6%.
- Extension note with Sponsor amended, maturity extended to March 4, 2025.
- Authorized shares increased to 500M common and 10M preferred; board classified into three classes.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
Daniel Dickson was elected as Director at QT IMAGING HOLDINGS, INC..
- Action
- elected
- Role
- Director
Exact text from the filing
The following persons are serving as executive officers and directors of the Company upon the Closing, with Dr. John Klock and Stas Budagov having been named as executive officers effective upon the Closing on March 4, 2024, and each of the directors having been elected by the GigCapital5 stockholders to the board also upon the Closing on March 4, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Gerald McMorrow was elected as Director at QT IMAGING HOLDINGS, INC..
- Action
- elected
- Role
- Director
Exact text from the filing
The following persons are serving as executive officers and directors of the Company upon the Closing, with Dr. John Klock and Stas Budagov having been named as executive officers effective upon the Closing on March 4, 2024, and each of the directors having been elected by the GigCapital5 stockholders to the board also upon the Closing on March 4, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Dr. John Klock was named as Chief Executive Officer and Director at QT IMAGING HOLDINGS, INC..
- Action
- named
- Role
- Chief Executive Officer and Director
Exact text from the filing
The following persons are serving as executive officers and directors of the Company upon the Closing, with Dr. John Klock and Stas Budagov having been named as executive officers effective upon the Closing on March 4, 2024, and each of the directors having been elected by the GigCapital5 stockholders to the board also upon the Closing on March 4, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Karen Rogge resigned as Director at QT IMAGING HOLDINGS, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective upon the Closing on February 28, 2024, Dr. Raluca Dinu and Brad Weightman resigned as executive officers of GigCapital5, and each of Raanan S. Horowitz, Karen Rogge, and Dorothy Hayes, following their not standing for re-election to the Board, resigned as directors of GigCapital5.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Dr. Raluca Dinu was elected as Director at QT IMAGING HOLDINGS, INC..
- Action
- elected
- Role
- Director
Exact text from the filing
The following persons are serving as executive officers and directors of the Company upon the Closing, with Dr. John Klock and Stas Budagov having been named as executive officers effective upon the Closing on March 4, 2024, and each of the directors having been elected by the GigCapital5 stockholders to the board also upon the Closing on March 4, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Ross Taylor was elected as Director at QT IMAGING HOLDINGS, INC..
- Action
- elected
- Role
- Director
Exact text from the filing
The following persons are serving as executive officers and directors of the Company upon the Closing, with Dr. John Klock and Stas Budagov having been named as executive officers effective upon the Closing on March 4, 2024, and each of the directors having been elected by the GigCapital5 stockholders to the board also upon the Closing on March 4, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Brad Weightman resigned as Executive Officer at QT IMAGING HOLDINGS, INC..
- Action
- resigned
- Role
- Executive Officer
Exact text from the filing
Effective upon the Closing on February 28, 2024, Dr. Raluca Dinu and Brad Weightman resigned as executive officers of GigCapital5, and each of Raanan S. Horowitz, Karen Rogge, and Dorothy Hayes, following their not standing for re-election to the Board, resigned as directors of GigCapital5.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Dr. Avi S. Katz was elected as Chairman of the Board of Directors at QT IMAGING HOLDINGS, INC..
- Action
- elected
- Role
- Chairman of the Board of Directors
Exact text from the filing
The following persons are serving as executive officers and directors of the Company upon the Closing, with Dr. John Klock and Stas Budagov having been named as executive officers effective upon the Closing on March 4, 2024, and each of the directors having been elected by the GigCapital5 stockholders to the board also upon the Closing on March 4, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Dorothy Hayes resigned as Director at QT IMAGING HOLDINGS, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective upon the Closing on February 28, 2024, Dr. Raluca Dinu and Brad Weightman resigned as executive officers of GigCapital5, and each of Raanan S. Horowitz, Karen Rogge, and Dorothy Hayes, following their not standing for re-election to the Board, resigned as directors of GigCapital5.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Dr. Raluca Dinu resigned as Executive Officer at QT IMAGING HOLDINGS, INC..
- Action
- resigned
- Role
- Executive Officer
Exact text from the filing
Effective upon the Closing on February 28, 2024, Dr. Raluca Dinu and Brad Weightman resigned as executive officers of GigCapital5, and each of Raanan S. Horowitz, Karen Rogge, and Dorothy Hayes, following their not standing for re-election to the Board, resigned as directors of GigCapital5.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Professor Zeev Weiner was elected as Director at QT IMAGING HOLDINGS, INC..
- Action
- elected
- Role
- Director
Exact text from the filing
The following persons are serving as executive officers and directors of the Company upon the Closing, with Dr. John Klock and Stas Budagov having been named as executive officers effective upon the Closing on March 4, 2024, and each of the directors having been elected by the GigCapital5 stockholders to the board also upon the Closing on March 4, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Raanan S. Horowitz resigned as Director at QT IMAGING HOLDINGS, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective upon the Closing on February 28, 2024, Dr. Raluca Dinu and Brad Weightman resigned as executive officers of GigCapital5, and each of Raanan S. Horowitz, Karen Rogge, and Dorothy Hayes, following their not standing for re-election to the Board, resigned as directors of GigCapital5.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Stas Budagov was named as Chief Financial Officer at QT IMAGING HOLDINGS, INC..
- Action
- named
- Role
- Chief Financial Officer
Exact text from the filing
The following persons are serving as executive officers and directors of the Company upon the Closing, with Dr. John Klock and Stas Budagov having been named as executive officers effective upon the Closing on March 4, 2024, and each of the directors having been elected by the GigCapital5 stockholders to the board also upon the Closing on March 4, 2024.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
QT IMAGING HOLDINGS, INC.: Company ceased being a shell company as a result of the business combination.
- Change
- shell status
Exact text from the filing
As a result of the Business Combination, the Company ceased being a shell company.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
QT IMAGING HOLDINGS, INC.: Amended and restated certificate of incorporation to change company name, classify board, increase authorized capital, and other changes in connection with business combination (effective 2024-03-04).
- Change
- charter amendment
- Effective
- 2024-03-04
Exact text from the filing
Immediately prior to the Closing of the Business Combination, GigCapital5’s amended and restated certificate of incorporation, dated March 4, 2024 (the “ Charter ”), was further amended and restated to: (a) change the post-combination company’s name to QT Imaging Holdings, Inc.; (b) classify and divide the Board into three classes, each with terms expiring at different times; (c) delete the second sentence in Article II and delete the prior provisions under, and references to, Article IX (Business Combination Requirements; Existence) of the prior amended and restated certificate of incorporation; (d) Increase the authorized share capital of the Company from (i) 100,000,000 shares of common stock and (ii) 1,000,000 shares of preferred stock, to 510,000,000 total shares, consisting of (X) 500,000,000 shares of common stock, and (Y) 10,000,000 shares of preferred stock; (e) amend certain terms in Article X (Corporate Opportunities) with respect to certain non-employee directors of the com
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
QT IMAGING HOLDINGS, INC.: Bylaws amended and restated to prohibit stockholder action by written consent.
- Change
- bylaw amendment
Exact text from the filing
In connection with the Closing of the Business Combination, GigCapital5’s bylaws were amended and restated to prohibit stockholder action by written consent, which forces stockholder action to be taken at an annual or annual meeting of our stockholders.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.