Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 403

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 403
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 Lake Warrant |           — |            |
|:----------------------------------------------------------------|:----|:---------------------|------------:|-----------:|
| Fair value at issuance                                          |     |                      |             | 16,496,084 |
| Change in fair value                                            |     |                      |     606,186 |            |
| Ending balance, March 31, 2025                                  |     |                      |  17,102,270 |            |
| Change in fair value                                            |     |                      |   2,294,669 |            |
| Reclassification of warrant liability upon warrant modification |     |                      | -19,396,939 |            |
| Ending balance, June 30, 2025                                   |     | $                    |           — |            |

On February 26, 2025, the Company issued to Yorkville a warrant to purchase 5,000,071shares of common stock at an exercise price of $ 1.20per share pursuant to a Warrant to Purchase Common Stock (the “Yorkville Warrant”) to fully settle and discharge the Company’s obligations under the Yorkville Note and extinguish the Yorkville Note as having been fully performed. The Yorkville Warrant is exercisable until February 26, 2030. Yorkville may cashless exercise the Yorkville Warrant. The Yorkville Warrant is also subject to adjustments in the event that the Company’s common stock undergoes a split, reverse-split or similar event. Furthermore, the Yorkville Warrant has provided the holder with piggyback registration rights. On June 11, 2025, the Yorkville Warrant was amended to update the provisions that would trigger cash settlement such that, when such events occur, the holders of the warrants receive the same form of consideration as the underlying stockholders. According to ASC 815-40, Derivatives and Hedging: Contracts in an Entities Own Equity , equity classification is permitted for an instrument that requires net-cash settlement if the holders of the contract’s underlying shares receive the same form of consideration in transactions outside the company’s control. Consequently, upon modification, the warrants were revalued and then reclassified to additional paid-in capital on the condensed consolidated balance sh eets. The Co mpany determined the fair value of the Yorkville Warrant using the Black-Scholes Model.

Significant assumptions used in the valuation of the fair value of the Yorkville Warrant as of issuance on February 26, 2025 and as of