Company: QTIWW
Filing Date: 2025-08-07
Form Type: DEFA14A
Source: 0001844505-25-000081
Chunk: 3

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-08-07
Form: DEFA14A
Chunk 3
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0.4 million, of which $1.0 million is not attributable to

*Refer to the “Non-GAAP Financial Measures” section in this press release.

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these two noncash charges, compared to a net loss of $1.2 million for the second quarter of 2024.

• Non-GAAP Adjusted EBITDA* of $(0.8) million for the second quarter of 2025, compared to $(2.1) million for the second quarter of 2024.

• Net cash used in operating activities during the second quarter of 2025 was $1.5 million compared to $1.0 million in the second quarter of 2024.

• As of June 30, 2025, the Company had cash of $2.0 million. As of August 6, 2025, the Company had cash of $4.3 million after complete collections for shipments made for the scanners discussed above.

Amendments to the Lynrock Lake and Yorkville Warrant Agreements

• On June 11, 2025, the Company and Lynrock Lake amended and restated the Lynrock Lake Warrant (the “Amended Lynrock Lake Warrant”) in its entirety to revise the treatment of warrants upon an Acquisition. The Amended Lynrock Lake Warrant provides that in the event of a Cash/Public Acquisition where the Fair Market Value of one Share would be greater than the Warrant Price in effect immediately prior thereto, the Amended Lynrock Lake Warrant shall automatically be deemed to be Cashless Exercised as to all effective Shares, provided that to the extent such exercise would violate the limitations on exercise, the Company must arrange for any Excess Exercise Shares, rather than to be cancelled and treated as null and void ab initio, to instead receive the same amount and form of consideration (including, if the Acquisition is a purchase offer, tender offer or exchange offer, any shares of Common Stock that would have been received upon exercise and retained by Lynrock Lake in the event that not all Common Stock are accepted in such purchase offer, tender offer or exchange offer) to which Lynrock Lake would have been entitled to as a stockholder (assuming, if the Acquisition is a purchase offer, tender offer or exchange offer, Lynrock Lake made no election among different forms of consideration in the purchase offer, tender offer or exchange offer and thereby received the default consideration provided to non-electing stockholders) had Lynrock