Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 113

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 113
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 of the holder’s investment in us may be reduced or the warrants may expire worthless.

In addition, the outstanding Lynrock Lake Warrant, which is exercisable for 20,333,623 shares of Common Stock, is exercisable on a “cashless basis.”

There is no guarantee that the public and private warrants will ever be in the money, and they may expire worthless and the terms of warrants may be amended.

The exercise price for the public and private warrants is $6.90 per share of Common Stock. There is no guarantee that the public and private warrants will ever be in the money prior to their expiration, and as such, the warrants may expire worthless.

In addition, the Company’s public and private warrants were issued in registered form under the Warrant Agreement between Continental Stock Transfer & Trust Company, as warrant agent, and the Company. The Warrant Agreement provides that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision, but requires the approval by the holders of at least 50% of the then outstanding public warrants to make any other change. Accordingly, the Company may amend the terms of the warrants in a manner adverse to a holder if holders of at least 50% of the then outstanding public warrants approve of such amendment. Although the Company’s ability to amend the terms of the warrants with the consent of at least 50% of the then outstanding public warrants is unlimited, examples of such amendments could be amendments to, among other things, increase the exercise price of the warrants, shorten the exercise period or decrease the number of shares and their respective affiliates and associates have of Common Stock purchasable upon exercise of a warrant.

Our warrants will become exercisable for the Common Stock, which would increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders.

Our private warrants and our public warrants issued as part of GigCapital5’s IPO are exercisable for one share of Common Stock at $6.90 per share. In addition, we have issued warrants in various private placements. In November 2024, we issued warrants in a private placement (the “ November 2024 PIPE Warrants ”) that have an exercise price of $2.02 per share. The Lynrock Lake Warrant has an exercise price of $1.20 per share. The Ten Year Common Warrants have an exercise price of $2.16 per share. The Recanati Warrant has an exercise price of $3