Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 10

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 10
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 imaging systems, conducted research and development activities, secured related intellectual property rights, and for general corporate operations and growth. Our first product, the QT Ultrasound Breast Scanner (which was later renamed “QT Breast Scanner”), received FDA’s 510(k) market clearance in June 2017.

Prior to the Closing of the Business Combination, QT Imaging initiated some marketing initiatives outside the U.S. In November 2022, QT Imaging entered into a three-year distribution relationship with Innovador Healthcare (Asia) Pte. Ltd. (“ Innovador ”), based in Singapore. The Company will assess future sales and distribution opportunities outside of the U.S., but there can be no guarantees that the Company will find additional partners on terms acceptable to it, if at all. Additionally, in the near term, the Company will focus its resources on the U.S. market, as we are supported by strong distribution and business partnership with NXC Imaging (“ NXC ”), a wholly owned subsidiary of Canon Medical USA, Inc. (“ CMSU ”).

On May 31, 2023, QT Imaging initially entered into a confidential Sales Agent Agreement with NXC (the “ NXC Sales Agent Agreement ”), pursuant to which QT Imaging appointed NXC as the non-exclusive agent for the sale of QT Imaging products and services in the following non-exclusive territories: the U.S., U.S. territories, and U.S. Department of Defense installations. Additionally, NXC was appointed as the exclusive servicer of QT Imaging products sold by NXC under the terms of the NXC Sales Agent Agreement. Subsequently, effective June 10, 2024, we replaced the NXC Sales Agent Agreement with a Distribution Agreement (“ the NXC Distribution Agreement ”). Pursuant to the terms of the NXC Distribution Agreement, NXC is appointed as the exclusive reseller to market, advertise, and resell QT Breast Scanners (the “ Equipment ”) in the U.S. and U.S. territories. NXC will purchase for the purpose of reselling, leasing or renting QT Breast Scanners directly to its customers.

We have reserved the right to sell directly to customers as an exception. Furthermore, we may, in our sole discretion, sell the Equipment to any other person or entity anywhere in the world without notice to NXC or NXC’s prior consent. NXC is also allowed to assign sales agents for the purpose of equipment sales. NXC’s purchases will be in accordance with a product pricing schedule attached to the NXC Distribution Agreement as an exhibit (subject to