Company: QTIWW
Filing Date: 2025-01-31
Form Type: S-1/A
Source: 0001628280-25-003316
Chunk: 389

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-31
Form: S-1/A
Chunk 389
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 operations of the Company; and

• QT Imaging is the larger entity based on historical business activity and the larger employee base.

<div align='center'>F-42</div>

#### QT IMAGING HOLDINGS, INC.

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

The following summarizes the elements of the Merger to the condensed consolidated statements of stockholders’ deficit and cash flows, including the transaction funding, sources, and uses of cash:

|                                                                                           |     | Recapitalization |             |
|:------------------------------------------------------------------------------------------|:----|:-----------------|------------:|
| Cash in GigCapital5 Trust Account, net of redemptions                                     |     | $                |  13,952,525 |
| Plus: cash in GigCapital5 operating bank account                                          |     |                  |       4,829 |
| Less: Payments made pursuant to non-redemption agreements                                 |     |                  | -10,791,550 |
| Less: GigCapital5 transaction costs paid from Trust                                       |     |                  |  -1,073,667 |
| Less: Repayment of GigCapital5 related party notes                                        |     |                  |    -853,607 |
| Net cash proceeds from GigCapital5                                                        |     |                  |   1,238,530 |
| Assumed net liabilities from GigCapital5, excluding net cash proceeds                     |     |                  | -10,507,695 |
| Net impact of the Merger on the condensed consolidated statement of stockholders' deficit |     | $                |  -9,269,165 |

Merger Related Activities

On November 15, 2023, GigCapital5, QT Imaging and Yorkville, a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP, entered into the SEPA. Upon the closing of the Merger, the Company has the right, provided there is no balance outstanding under the Yorkville Note (as defined below) or, if there is a balance outstanding under a Yorkville Note, with Yorkville’s prior written consent, or upon the occurrence of certain trigger events, to issue and sell to Yorkville, and Yorkville shall purchase from the Company, up to $ 10,000,000in aggregate gross purchase price (the “Commitment Amount”) of newly issued shares of the common stock (each such sale, an “Advance”) by delivering written notice to Yorkville (each, an “Advance Notice” and