Company: QTIWW
Filing Date: 2025-01-31
Form Type: S-1/A
Source: 0001628280-25-003316
Chunk: 402

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-31
Form: S-1/A
Chunk 402
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 issued with conversion rights for the form of such consideration (as opposed to Common Stock) at a conversion rate for such consideration commensurate with the Conversion Price. Provision made pursuant to the preceding sentence shall be in a form and substance satisfactory to the Required Holders.

The initial fair value of the above Derivatives was calculated using a Monte Carlo simulation. The simulation used significant inputs, including volatility of Company's equity that was derived based on a comparable peer group of publicly traded companies and the company’s stock price on the valuation date.

The total value of the derivatives reflected the combined value of the monthly payment premium, reduction to that premium by the payment discount, and the value of the conversion right. The values of the failure to timely convert and corporate event features were deemed to be de minimis.

Significant assumptions used in the valuation of the fair value of the derivative liability as of issuance on March 4, 2024 and as of September 30, 2024 were as follows:

|                            |     |   | March 4, 2024 |      |     |   | September 30, 2024 |      |
|:---------------------------|:----|:--|--------------:|-----:|:----|:--|-------------------:|-----:|
| Fair value of common stock |     | $ |          3.53 |      |     | $ |               0.71 |      |
| Term in years              |     |   |               | 1.25 |     |   |                    | 1.23 |
| Volatility                 |     |   |         130.0 |    % |     |   |              115.0 |    % |
| Risk-free rate             |     |   |           4.9 |    % |     |   |                3.9 |    % |
| Debt discount              |     |   |          30.0 |    % |     |   |               30.0 |    % |

<div align='center'>F-49</div>

#### QT IMAGING HOLDINGS, INC.

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

The activity for the fair value of the derivative liability during the three and nine months ended September 30, 2024 was as follows:

| Beginning balance, January 1, 2024 |     | Derivative Liability |          — |
|:-----------------------------------|:----