Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 354

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 354
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 |                   |  3,760,000 |     |      |          — |
| Debt discount included in accrued expenses                                                                  |     |                   |     40,740 |     |      |          — |
| Conversion of long-term debt into common stock                                                              |     |                   |  3,433,388 |     |      |          — |
| Deemed dividend                                                                                             |     |                   |  5,185,502 |     |      |          — |

<div align='center'>F-32</div>

#### QT IMAGING HOLDINGS, INC.

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

1. The Company and Summary of Significant Accounting Policies

Nature of Operations

QT Imaging Holdings, Inc. (the “Company”), formerly known as GigCapital5, Inc. (“GigCapital5”), is incorporated in Delaware with headquarters in Novato, California. The Company is a medical device company engaged in research, development, and commercialization of innovative body imaging systems using low frequency sound waves. The Company strives to improve global health outcomes. Its strategy is predicated upon the fact that medical imaging is critical to the detection, diagnosis, and treatment of disease and that it should be safe, affordable, accessible, and centered on the patient’s experience. The Company’s initial product is a breast imaging system.

On March 4, 2024 (the “ Closing Date ” or “ Merger Date ” ), QT Imaging, Inc. ( “ QT Imaging ” ), GigCapital5, and QTI Merger Sub, Inc. ( “ QTI Merger Sub ” ) pursuant to the terms of the Business Combination Agreement (the “ Business Combination Agreement ” ) dated December 8, 2022, completed the business combination of QT Imaging and GigCapital5 which was effected by the merger of QTI Merger Sub with and into QT Imaging, with QT Imaging surviving the Merger as a wholly owned subsidiary of GigCapital5 (the “ Merger, ” and, together with the other transaction contemplated by the Business Combination Agreement, the “ Business Combination ” ). Upon completion of the merger on March 4, 2024 , GigCapital5 changed its name to QT Imaging Holdings, Inc. and effectively assumed all of QT Imaging’s material operations. Refer to Note 2 - Business Combination for more information regarding the Merger.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and