Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 398

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 398
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 warrant holders, the warrants can be fully settled in shares of common stock, or converted via net share settlement, in which the warrant holder will receive shares equal to the number of shares purchasable under the warrants multiplied by the difference between the fair market value of the shares and the exercise price, divided by the fair market value of the shares.

<div align='center'>F-57</div>

#### QT IMAGING HOLDINGS, INC.

### Notes to Condensed Consolidated Financial Statements
<div align='center'>(Unaudited)</div>

The following table represents the QT Imaging warrant activity as follows for the nine months ended September 30, 2024:

|                                                       |     | Number of 
 Warrants  |          |
| Outstanding, January 1, 2024                          |     |           |  422,064 |
| Exercised                                             |     |           |  -16,320 |
| Terminated pursuant to business combination agreement |     |           | -405,744 |
| Outstanding, September 30, 2024                       |     |           |        — |

The fair value of the QT Imaging warrants issued as part of the 2022 Offering and included in stockholders’ deficit in the condensed consolidated balance sheets was $ 0and $ 462,413for the three and nine months ended September 30, 2023, respectively. The fair value of the remaining warrant granted during the nine months ended September 30, 2023 was $ 15,317and was recorded as issuance costs against the proceeds received from the 2022 Offering. There were noQT Imaging warrants issued during the three and nine months ended September 30, 2024 or during the three months ended September 30, 2023.

On March 4, 2024 and in accordance with the terms of the Business Combination Agreement, the Company cancelled and terminated all outstanding warrants that were deemed out of the money with an exercise price of or above $ 11.67per warrant, including all warrants sold as part of the Units in the 2022 Offering and warrants that were issued to consultants and placement agents in association with debt issuances and past private offerings.

Warrants (Public Warrants, Private Placement Warrants and Working Capital Note Warrants)

Warrants will be exercisable at $ 11.50per share, and pursuant to the terms of the warrant agreement governing such warrants (the “Warrant Agreement”), the exercise price and number of warrant shares issuable on exercise of the warrants