Company: QTIWW
Filing Date: 2025-04-10
Form Type: 8-K
Source: 0001844505-25-000042
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Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-04-10
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Definitive Material Agreement

QT Imaging Holdings, Inc. (the “Company”) entered into a Securities Purchase Agreement, dated April 9, 2025 (the “Securities Purchase Agreement”), by and between the Company, on the one hand, and Dr. Avi Katz, the Chairman of the Company’s Board of Directors, and Dr. Raluca Dinu, the Chief Executive Officer and a member of the Company’s Board of Directors, on the other hand, (together, the “ Purchasers”) for a private placement (the “Private Placement”) of securities. At the closing of the Private Placement, the Company will issue (i) 784,929 shares (the “ Shares”) of the Company’s common stock, par value $0.0001 per share (the “ Common Stock”); and (ii) a Common Stock Purchase Warrant (the “ Warrant” and together with the Shares, the “Securities”) with a term of ten years from the initial exercise date to purchase up to an additional 1,569,858 shares of Common Stock (all of such shares issuable upon exercise of the Warrant, the “ Warrant Shares”).

The purchase price of each Share is $0.637, which represents 110% of the volume weighted trading price for the Common Stock on April 9, 2025 (the “Per Share Purchase Price”), and the per share exercise price of the Warrant is $0.72. The aggregate gross proceeds to the Company from the Private Placement will be approximately $500,000, before deducting the offering expenses payable by the Company, which expenses consist solely of legal fees. The Company intends to use the net proceeds from the offering for working capital purposes.

Securities Purchase Agreement

The Securities Purchase Agreement contains customary representations, warranties, and covenants of the Company and the Purchasers, and customary closing conditions, indemnification rights, and other obligations of the parties. The Private Placement is expected to close by April 24, 2025. Under the Securities Purchase Agreement, the Company agreed to use the net proceeds from the sale of the Securities for working capital purposes and to not use such proceeds: (a) for the redemption of any Common Stock or Common Stock Equivalents (as defined in the Securities Purchase Agreement), or (b) in violation of the Foreign Corrupt Practices Act of 1977, as amended, or the regulations promulgated by the Office of Foreign Assets Control