San Francisco, California, USA, June 06, 2022 (GLOBE NEWSWIRE) — Following continued international expansion in the first quarter of 2022, QT Imaging, Inc. (“QT Imaging”) today announced plans to become a public company this year by the SPAC -Transaction. QT Imaging engaged ARC Group to advise them in the process. QT Imaging is a private developer of innovative and proprietary body imaging technology, providing patients with a safe, radiation-free, accurate and painless scanning alternative to traditional radiation emission or MRI technology. The company is currently seeking $30 million through a convertible note offering, with US Capital Global Securities LLC, a subsidiary of US Capital, as placement agent.
Based in San Francisco, US Capital is a full-service private finance group with a proven track record in investment banking, asset management and capital formation. All securities are offered by the group through its member FINRA, SEC-registered affiliate broker, US Capital Global Securities LLC.
“We are extremely pleased to announce our intention to go public this year,” said John C. Klock, MD, CEO and Medical Director of QT Imaging. “The company is at an inflection point in its international expansion and the last twelve months have seen a series of notable achievements and business milestones. The medical imaging market is estimated at $40 billion worldwide and $10 billion in the United States each year, and we believe QT Imaging’s breakthrough FDA-cleared technology has the potential to have a significant impact on this growing market.
QT Imaging’s first product, the QT Breast Scanner, is FDA cleared for whole breast imaging and can be used for medical screening and diagnosis. The company’s lead product, QTscan®, has been shown in clinical trials to have superior sensitivity and specificity to x-ray mammography and can safely identify the difference between benign and problematic tissue without the need for compression, injections and potentially harmful radiation.
“We are delighted to support QT Imaging during this exciting period of its growth,” said Frank Villarreal, senior vice president at US Capital Global Securities. “With the additional working capital provided by the de-SPAC merger, QT Imaging plans to increase its product development for orthopedics and infant imaging and significantly expand its marketing efforts to be able to demonstrate a significant sales growth in 2023. The company’s proprietary technology is protected by eight U.S. and European patents plus twelve others pending, all 100% owned by the company.If you are interested in QT Imaging, the opportunity to participate to this $30 million convertible note offering is currently still open to eligible investors.”
About QT Imaging
QT Imaging is a privately held medical device company engaged in the research, development and commercialization of innovative body imaging systems using low energy sound. This contrasts with traditional medical imaging using ionizing radiation (eg, X-rays and CT) or magnetic fields (eg, MRI), which may require contrast injections and specialized facilities. Its clinical trials have been conducted at prestigious institutions in the United States and Europe. The QT Breast Scanner is available in Asia through a joint venture with TCL Healthcare Equipment and in Europe, Middle East and North Africa through a distribution agreement with QT Scan, BV www.qtimaging.com
About ARC Group ARC Group is an international financial services company headquartered in Shanghai. Established in 2015, ARC is one of the world’s leading providers of SPAC formation and SPAC mergers. ARC has six international offices and over 60 finance staff and completed over $3.9 billion in transactions in 2021. www.arc-group.com
About U.S. Capital
US Capital Global Securities LLC (“USCGS”) is the FINRA member brokerage division of US Capital that acts as placement agent for growth-stage companies, projects and investment funds. Since 1998, US Capital has been committed to providing lower middle market companies and investors with sophisticated debt, equity and investment opportunities generally available only to large middle market companies and institutional investors, using the latest FinTech and RegTech innovations. US Capital entities manage direct investment funds and provide wealth management and capital raising services. USCGS or its affiliates may provide advice, be compensated by, or may from time to time acquire, hold or sell a position in the securities of the issuers mentioned herein. Any such offer or solicitation will only be made pursuant to the Confidential Private Placement Memorandum. Investments in private debt and equities are not suitable for all investors, are generally illiquid, offer no guarantee of return and expose investors to possible loss of capital. See the USCGS CRS form at https://www.uscapglobalsecurities.com/crs.html.
To learn more about this investment opportunity, email Frank Villarreal, Senior Vice President, at [email protected] or call +1 415-350-4092.