Company: QTIWW
Filing Date: 2025-12-29
Form Type: S-1/A
Source: 0001628280-25-058960
Chunk: 427

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-12-29
Form: S-1/A
Chunk 427
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Upon issuance of the Lynrock Lake Term Loan, the Company recorded a loss of $ 6,640,384, including debt issuance costs of $ 244,300, in other income (expense), net within the condensed consolidated statements of operations and comprehensive loss for the nine months ended September 30, 2025.

On August 26, 2025, the Company and Lynrock Lake entered into the Amended Credit Agreement to add Tranche B in the amount of $ 5.0million to the loan and increase the aggregate principal amount of the Lynrock Lake Term Loan to $ 15.1million. The proceeds of Tranche B were used to repurchase the Yorkville Warrant. Tranche B is subject to the Tranche B Premium equal to 6% multiplied by the sum of (a) the principal of Tranche B being repaid plus (b) all related accrued and unpaid interest. Subject to the payment of the Make-Whole Amount, if the Company receives Net Cash Proceeds (as defined in the Credit Agreement) from any sale or issuance of the Company’s common stock, then the Company shall, at the option of Lynrock Lake, prepay, or cause to be prepaid, Tranche B on or prior to the date which is thirty daysafter the date of the receipt by the Company of such Net Cash Proceeds in an amount equal to the lesser of (i) 100% of such Net Cash Proceeds or (ii) the principal amount of Tranche B on such date of prepayment, together with all accrued and unpaid interest thereon and any outstanding fees or premium, if any, payable in accordance with the Lynrock Lake Term Loan. Additionally, in connection with any mandatory prepayment of Tranche B on or prior to December 31, 2025, such mandatory prepayment will be subject to the payment of the Tranche B Premium instead of the Make-Whole Amount.

On October 6, 2025, the Company repaid the $ 5.0million under Tranche B of the Lynrock Lake Term Loan, plus accrued interest and the Tranche B Premium, with a portion of the proceeds from the October 2025 Private Placement. Refer to Note 10, Stockholders’ Deficit. As a result, Tranche B was presented within current maturities of long-term debt on the condensed consolidated balance sheets.

As of September 30, 2025, the outstanding amount of the Lynrock Lake Term Loan was $ 5,