Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 436

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 436
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 to October 21, 2027.

As of June 30, 2025 and December 31, 2024, the outstanding amount of the 2020 Notes was $ 3,143,725and accrued interest was $ 635,815and $ 550,430, respectively. Interest expense for the three months ended June 30, 2025 and 2024, was $ 42,929and $ 42,929, respectively. Interest expense for the six months ended June 30, 2025 and 2024, was $ 85,386and $ 85,857, respectively.

Working Capital Loan

On May 3, 2023, the Company issued a promissory note (the “Working Capital Note”) to a stockholder for a principal amount of $ 250,000. The Working Capital Note was subsequently amended and restated sixtimes on June 12, 2023 to add an additional principal amount of $ 100,000, August 15, 2023 to add an additional principal amount of $ 75,000, August 29, 2023 to add an additional principal amount of $ 100,000, September 12, 2023 to add an additional principal amount of $ 75,000, September 15, 2023 to add an additional principal amount of $ 50,000, and October 26, 2023 to add an additional principal amount of $ 55,000, for an aggregate principal amount outstanding as of June 30, 2025 under the Working Capital Note of $ 705,000. The Working Capital Note was issued to provide the Company with additional working capital during the period prior to consummation of the Business Combination Agreement with GigCapital5. The Working Capital Note is interest-free and originally matured on the earlier of (i) the date on which the Company consummated the Business Combination with GigCapital5; (ii) the date the Company winds up; or (iii) December 31, 2023. The Working Capital Note may be prepaid without penalty. On March 4, 2024, the holder of the Working Capital Note agreed to extend and subordinate the promissory note pursuant to and in accordance with the terms of the Business Combination Agreement. Effective on the Closing of the Business Combination, the Working Capital Note cannot be repaid prior to the repayment or conversion of the Yorkville Note received from Yorkville (see Note 7). In