Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 444

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 444
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| Description:                                |     | Level |     | December 31, 2023 |           |     | December 31, 2022 |            |
|:--------------------------------------------|:----|------:|:----|:------------------|----------:|:----|:------------------|-----------:|
| Assets:                                     |     |       |     |                   |           |     |                   |            |
| Marketable securities held in Trust Account |     |     1 |     | $                 |         — |     | $                 | 41,561,656 |
| Liabilities:                                |     |       |     |                   |           |     |                   |            |
| Warrant liability                           |     |     2 |     | $                 |     7,950 |     | $                 |     31,800 |
| Note payable to related party at fair value |     |     3 |     | $                 | 1,506,389 |     | $                 |    257,492 |

The marketable securities held in the Trust Account are considered trading securities as they are generally used with the objective of generating profits on short-term differences in price and therefore, the realized and unrealized gain and loss are recorded in the statements of operations and comprehensive loss for the periods presented.

Additionally, there was $ 0and $ 133,211of interest accrued, but not yet credited to the Trust Account, which was recorded in the balance sheets in interest receivable on cash and marketable securities held in Trust Account as of December 31, 2023 and 2022, respectively.

The Company has determined that the Private Placement Warrants are subject to treatment as a liability, as the transfer of the warrants to anyone other than the purchasers or their permitted transferees would result in these warrants having substantially the same terms as the Public Warrants. The Public Warrants did not start trading separately until November 4, 2021, so the Company initially determined the fair value of each warrant using a Black-Scholes option-pricing model, which requires the use of significant unobservable market values. Accordingly, the Private Placement Warrants were initially classified as Level 3 financial instruments. After the Public Warrants started trading separately, the Company determined that the fair value of each Private Placement Warrant approximates the fair value of a Public Warrant. Accordingly, the Private Placement Warrants are valued upon observable data and have been reclassified as Level 2 financial instruments.

The Working