Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 428

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 428
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 income attributable to common stock subject to redemption                                |     |   |   -1,107,741 |           |     |   |   -1,143,783 |            |
| Net loss attributable to non-redeemable common stock                                               |     | $ |   -5,132,332 |           |     | $ |   -3,918,090 |            |
| Denominator: Weighted-average non-redeemable common shares                                         |     |   |              |           |     |   |              |            |
| Weighted-average non-redeemable common shares outstanding, basic and diluted                       |     |   |              | 6,540,000 |     |   |              |  6,540,000 |
| Net loss per share, non-redeemable common stock, basic and diluted                                 |     | $ |        -0.78 |           |     | $ |        -0.60 |            |

Cash and Cash Equivalents

The Company considers all short-term investments with a maturity of three months or less when purchased to be cash equivalents. The Company maintains cash balances that at times may be uninsured or in deposit accounts that exceed Federal Deposit Insurance Corporation limits. The Company maintains its cash deposits with major financial institutions. There were nocash equivalents as of December 31, 2023 and 2022.

Cash and Marketable Securities Held in Trust Account

As of December 31, 2023, the assets held in the Trust Account consisted of cash. As of December 31, 2022, the assets held in the Trust Account consisted of money market funds investing in U.S. Treasury Bills and cash.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which at times, may exceed federally insured limits. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.

Convertible Promissory Note - Related Party

The Company accounts for its Working Capital Note under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging (“ASC 815”). Under ASC 815-15-25, an election can be made at the inception of a financial instrument to account for the instrument under the fair value option under ASC 825, Financial Instruments. The Company has made such election for its Working Capital Note. Using the fair value option, the Working Capital Note is required to be recorded at