Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 435

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 435
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,000a month for office space, administrative services and secretarial support to an affiliate of the Founder, GigManagement, LLC. Services commenced on September 24, 2021, the date the securities were first listed on the NYSE, and will terminate upon the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The amount unpaid as of December 31, 2023 for such fees is $ 780,000.

The Company has agreed to pay advisory fees to directors for board committee service and administrative and analytical services, including certain activities on the Company’s behalf, such as identifying and investigating possible business targets and business combinations. All such amounts in the aggregate of $ 696,000were unpaid as of December 31, 2023.

On September 23, 2021, the Company entered into a Strategic Services Agreement with Mr. Weightman, its Treasurer and Chief Financial Officer, who holds 5,000Insider shares. Mr. Weightman is initially receiving $ 2,500per month for his services and such amount could increase to up to $ 15,000per month dependent upon the scope of services provided, as may be mutually agreed by the parties. The Company will pay Mr. Weightman for services rendered since September 23, 2021 and on a monthly basis thereafter for all services rendered after the consummation of the Offering.

Working Capital Loans

On September 26, 2022, the Company issued the Working Capital Note to the Sponsor for a principal amount of $ 65,000. The Working Capital Note was subsequently amended and restated eleven more times on October 26, 2022 (an additional $ 65,000added to the Working Capital Note), November 28, 2022 (an additional $ 65,000added to the Working Capital Note), December 27, 2022 (an additional $ 65,000added to the Working Capital Note), January 25, 2023 (an additional $ 65,000added to the Working Capital Note), February 27, 2023 (an additional $ 350,000added to the Working Capital Note) and March 28, 2023 (an additional $ 130,000added to the Working Capital Note), April 27, 2023 (an additional $ 65,000added to the Working Capital Note), June 26, 2023 (an additional $ 130,000added to the Working Capital