Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 330

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 330
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: 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                                                                                               |     |                  |   1,238,529 |
| Assumed net liabilities from GigCapital5 including the initial recognition of the earnout liability, excluding net cash proceeds |     |                  | -14,177,694 |
| Net impact of the Merger on the consolidated statement of stockholders' deficit                                                  |     | $                | -12,939,165 |

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 the date on which the Company is deemed to have delivered an Advance Notice, the “Advance Notice Date”). As consideration for a payment of $ 10,000,000(the “Pre-Paid Advance”) received on March 4, 2024, the Company issued the Yorkville Note, which was issued with a 6% original issue discount. The Yorkville Note for the Pre-Paid Advance was originally due 15months from the date of issuance, and interest accrues on the outstanding balance of the Yorkville Note at an annual rate equal to 6%, subject to an increase to 18% upon an event of default. The Yorkville Note is convertible by Yorkville into shares of the Company’s common stock. On March 4, 2024, immediately prior to, and substantially concurrently with, the closing of the Business Combination, QT Imaging issued