GigCapital5, Inc. Confirms Consideration For Non-Redemption Agreements
Portfolio Pulse from Benzinga Newsdesk
GigCapital5, Inc. (NASDAQ:GIA) has confirmed that it is considering Non-Redemption Agreements with non-affiliate stockholders of GigCapital5 common stock. This is in line with the Settlement Agreement that GigCapital5, QT Imaging, Inc., and the John C. Klock, Jr. and Cynthia L. Klock Trust entered into on September 21, 2023. QT Imaging plans to issue shares of its common stock that will convert into GigCapital5 Shares prior to the closing of the Business Combination.
September 22, 2023 | 8:49 pm
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GigCapital5's consideration for Non-Redemption Agreements could potentially increase the number of GigCapital5 Shares in circulation, which may impact the stock's price.
The Non-Redemption Agreements would result in the issuance of additional GigCapital5 Shares, which could dilute the value of existing shares. However, the impact on the stock's price would depend on the market's reaction to this potential increase in supply.
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