Company: QTIWW
Filing Date: 2025-02-28
Form Type: 8-K
Source: 0001844505-25-000028
Chunk: 6

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-02-28
Form: 8-K
Item: Item 1.01
Chunk 6
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 Klock Note”), and originally delivered by QT Imaging to the Klock Trust, and (iii) an Amendment (the “ Stanley Note Amendment”) to Convertible Promissory Note, dated March 2, 2022 (the “ Stanley Note”, and together with the 2023 Klock Note and the 2022 Klock Note, the “Pre-Combination Notes”), originally delivered by QT Imaging to Richard J. and Barbara Stanley, joint tenants with a right of survivorship.

These Pre-Combination Notes were issued to their respective holders by QT Imaging prior to the closing of the Company’s business combination on March 4, 2024, at which time, the 2022 Klock Note and the 2023 Klock Note were assigned to and assumed by the Company, upon which the terms of the 2022 Klock Note and the 2023 Klock Note were modified in part to provide, amongst other things, that the 2022 Klock Note and the 2023 Klock Note would not be convertible into shares of the Company’s Common Stock and to remove the security interests and liens provided for by QT Imaging in the 2022 Klock Note. The Stanley Note was assigned to and assumed by the Company on February 26, 2025, on the same terms as the assignment and assumption of the 2022 Klock Note, pursuant to the Stanley Note Amendment, including to provide that the Stanley Note is not convertible into shares of the Company’s Common Stock and to remove the security interests and liens provided for by QT Imaging in the Stanley Note. In addition, the 2023 Klock Note Amendment, the 2022 Klock Note Amendment and the Stanley Note Amendment have extended the maturity date of each of the Pre-Combination Notes to October 21, 2027, and the aggregate principal amounts currently owing under the 2022 Klock Note, the 2023 Klock Note, and the Stanley Note are $2,643,725, $705,000, and $500,000, respectively.

This Current Report provides a summary of the 2023 Klock Note Amendment, the 2023 Klock Note, the 2022 Klock Note Amendment, the 2022 Klock Note, the Stanley Note Amendment, and the Stanley Note Amendment, the descriptions of which do not purport to be complete and is qualified in its entirety by the terms and conditions of such agreement.

Item 2.03 Creation of a Direct Financial Obl