Company: QTIWW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001844505-25-000053
Chunk: 22

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 4
Chunk 22
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 of the Foreign Corrupt Practices Act of 1977, as amended, or the regulations promulgated by the Office of Foreign Assets Control of the U.S. Treasury Department. The Recanati Securities Purchase Agreement is governed by the laws of the State of New York.

The foregoing summary of the Recanati Securities Purchase Agreement is qualified in its entirety by reference to the Recanati Securities Purchase Agreement, a copy of which is filed with this Quarterly Report as Exhibit 10.10, and the terms of which are incorporated in this Quarterly Report by reference.

Warrants

The Recanati Warrant will be exercisable for 205,339 shares of Common Stock at an exercise price of $1.12 per share, and be exercisable beginning 6 months after its issuance at the closing of the Private Placement and ending 5 years after such issuance.

The foregoing summary of the Recanati Warrants is qualified in its entirety by reference to the forms of Recanati Warrant which is attached as Exhibit C to Exhibit 10.10 filed with this Quarterly Report, the terms of which are incorporated in this Quarterly Report by reference.

Registration Rights Agreement

In connection with the May 2025 Private Placement, the Company entered into a Registration Rights Agreement with the Purchaser, dated May 12, 2024 (the “Recanati Registration Rights Agreement”). The Recanati Registration Rights Agreement provides that the Company shall file a registration statement covering the resale of all Registrable Securities (as defined in the Recanati Registration Rights Agreement) with the Securities Exchange Commission (the “SEC”) no later than the 30th calendar day following the date of the Recanati Registration Rights Agreement, and have the registration statement declared effective by the SEC as promptly as practicable after the filing thereof, but in any event no later than the 60th calendar day following the date of the Recanati Registration Rights Agreement, or in the event of a “full review” by the SEC, the 90th day following the date of the Recanati Registration Rights Agreement.

Upon the occurrence of any Event (as defined in the Recanati Registration Rights Agreement), which, among others, prohibits the Purchaser from reselling the Securities for more than ten consecutive calendar days or more than an aggregate of twenty calendar days during any twelve-month period, the Company is obligated to pay to the Purchaser, on each monthly anniversary of each such Event, an amount in cash, as partial liquidated damages and not as a penalty, equal to