Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 337

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 337
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 and liabilities that are measured at fair value on a recurring basis as of December 31, 2024 and 2023, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

|                        | Description: |     | Level |   |     |   | December 31, 2024 |     |   | December 31, 2023 |
|:-----------------------|:-------------|:----|:------|--:|:----|:--|------------------:|:----|:--|------------------:|
| Assets:                |              |     |       |   |     |   |                   |     |   |                   |
| Certificate of deposit |              |     |       | 2 |     | $ |            20,000 |     | $ |            20,000 |
| Liabilities:           |              |     |       |   |     |   |                   |     |   |                   |
| Warrant liability      |              |     |       | 2 |     | $ |            22,234 |     | $ |                 — |
| Earnout liability      |              |     |       | 3 |     | $ |           440,000 |     | $ |                 — |
| Derivative liability   |              |     |       | 3 |     | $ |           303,300 |     | $ |                 — |

Warrant Liability

The Company has determined that the warrants that were a constituent part of (i) the private placement units that were issued in a private placement sale by GigCapital5 prior to the Merger (“Private Placement Warrants”) and (ii) the private placement units that were issued upon conversion of working capital notes issued by GigCapital5 prior to the Merger, which conversion occurred concurrent with the Merger (“Working Capital Note Warrants”) are subject to treatment as a liability, as the transfer of the warrants to anyone other than the purchasers or their permitted transferees would result in these warrants having substantially the same terms as the warrants included in the public units that were issued by GigCapital5 prior to the Merger (“Public Warrants”). The Company determined that the fair value of each Private Placement Warrant and the Working Capital Note Warrants approximates the fair value of a Public Warrant. Accordingly, the Private Placement Warrants and Working Capital Note Warrants are valued upo n observable data and have been classified as Level 2 financial instruments. As