Company: QTIWW
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001628280-25-004061
Chunk: 134

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-02-05
Form: 424B3
Chunk 134
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 (including shares issued upon the exercise or conversion of QT Imaging Options, QT Imaging Warrants and QT Imaging Convertible Notes (as each such term is defined in the Business Combination Agreement) but excluding each share of QT Imaging Common Stock (as such term is defined in the Business Combination Agreement) held in the treasury of QT Imaging which was cancelled without any conversion of such shares of QT Imaging Common Stock held in the treasury and dissenting shares) was automatically cancelled and converted into (A) a number of shares of the Company’s Common Stock equal to the Exchange Ratio of the quotient of (i) the Aggregate Closing Merger Consideration (as such term is defined in the Business Combination Agreement) divided by (ii) the QT Imaging Fully Diluted Capital Stock (as such term is defined in the Business Combination Agreement) and (B) the contingent right to receive a portion of additional shares of the Company’s Common Stock based on the performance of the Company if certain requirements are achieved in accordance with the terms of the Business Combination Agreement, if, as and when payable.

#### Accounting for the Transactions
The business combination is accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, GigCapital5 will be treated as the “acquired” company for financial reporting purposes. This determination was primarily based on QT Imaging’s operations comprising substantially all of the ongoing operations of the post-combination company, QT Imaging’s senior management comprising substantially all of the senior management of the post-combination company and the existence of a majority voting interest in the post-combination company. Accordingly, for accounting purposes, the business combination is treated as the equivalent of QT Imaging issuing stock for the net assets of GigCapital5, accompanied by a recapitalization. The net assets of GigCapital5 are stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the business combination are the historical operations of QT Imaging.

#### Basis of Pro Forma Presentation
The historical financial information has been adjusted to give pro forma effect to events that are related and/or directly attributable to the business combination, are factually supportable and, with respect to the pro forma statements of operations, are expected to have a continuing impact on the results of the post-combination company. The unaudited pro forma condensed combined financial information is for illustrative purposes only. The financial results may have been different had the companies always been combined. The unaudited pro forma condensed combined financial information should not be relied upon as being indicative of