Company: QTIWW
Filing Date: 2025-08-07
Form Type: DEFA14A
Source: 0001844505-25-000081
Chunk: 7

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-08-07
Form: DEFA14A
Chunk 7
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 |     |      |      — |     |      |            6,640 |     |      |      — |
| Adjusted EBITDA                                  |     | $    |               -777 |     | $    | -2,120 |     | $    |           -1,665 |     | $    | -3,281 |

(1) The Company recorded debt modification expense of $0.1 million related to its modification of the Cable Car Note on January 9, 2025 and debt extinguishment expense of $2.0 million related to the extinguishment of the Yorkville Note and Cable Car Note on February 26, 2025 in other expense, net for the six months ended June 30, 2025.

(2) The increase in fair value of warrant liability during the three months ended June 30, 2025 relates to the liability classified private placement warrants, the Lynrock Lake Warrant and Yorkville Warrant, which is primarily driven by increase in the Company's stock price from beginning of period to June 11, 2025, which is the date the Lynrock Lake Warrant and Yorkville Warrant were modified and subsequently reclassified to equity.

(3) The decrease in fair value of derivative liability during the six months ended June 30, 2025 related to the Yorkville Pre-paid Advance, which contained features that were bifurcated as freestanding financial instruments and initially valued on March 4, 2024 upon consummation of the Merger. The derivative liability was subsequently revalued as of February 26, 2025, prior to the extinguishment of the Yorkville Note.

(4) The earnout liability relates to the contingent consideration for the Merger Earnout Consideration Shares pursuant to the Business Combination Agreement dated December 8, 2022, as amended in September 2023. The earnout liability was initially valued using the Monte Carlo Simulation method on March 4, 2024 and subsequently revalued using the same method.

(5) The Company incurred transaction expenses related to the Merger with GigCapital5, Inc,, which closed on March 4, 2024. These transaction expenses included a $3.7 million of transaction costs that were settled with issuance of common stock, $0.4 million of transaction costs settled or payable in cash and a $0.2 million loss on issuance of common stock in connection with a subscription agreement, which were recorded as selling,