Company: QTIWW
Filing Date: 2025-02-28
Form Type: 8-K
Source: 0001844505-25-000028
Chunk: 3

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-02-28
Form: 8-K
Item: Item 1.01
Chunk 3
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 Agreement may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third‑party beneficiaries of the Credit Agreement and should not rely on the representations, warranties and covenants contained therein, or any descriptions thereof, as characterizations of the actual state of facts or conditions of the Company. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Credit Agreement, which subsequent developments may not be fully reflected in the Company’s public disclosure.

Lynrock Lake Warrant

Furthermore, in connection with the Lynrock Lake Term Loan, the Company issued to Lynrock Lake, pursuant to the terms of a Warrant to Purchase Common Stock (the “ Lynrock Lake Warrant”), warrants to purchase 61,000,000 shares of its common stock, par value $0.0001 (the “Common Stock”) at an exercise price of $0.40 per share. The Lynrock Lake Warrant is exercisable until February 26, 2035. Lynrock Lake may cashless exercise the Lynrock Lake Warrant. The Lynrock Lake Warrant is also subject to anti-dilution adjustments to the exercise price and the number of shares which may be purchased upon exercise of the Lynrock Lake Warrant in the event that the Company issues shares of Common Stock (or derivative securities) at a price that is either less than the $0.40 exercise price or the fair market value of a share of Common Stock from the immediately prior trading day.

Upon the written request of the beneficial owner of Lynrock Lake, the Company shall, within thirty (30) days thereafter, enter into a registration rights agreement with Lynrock Lake, which shall contain customary terms for the registration of the shares of Common Stock to be issued upon exercise of the Lynrock Lake Warrant.

A copy of the Lynrock Lake Warrant is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing description of the Lynrock Lake Warrant does not purport to be complete and is qualified in its entirety by reference to such exhibit.

Extinguishment of Yorkville Note and Issuance of Warrant

As previously disclosed by the Company in a Current Report on Form 8-K filed on November 22, 2023 with the Securities and Exchange Commission (the “ SEC”), on November 16, 2023, the Company entered into a Standby Equity Purchase Agreement (the “ SEPA