Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 460

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 460
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 into a Securities Purchase Agreement, dated November 12, 2024 (the “ Securities Purchase Agreement ”), by and between us and certain members of our Board of Directors and affiliates of such members, (the “ Purchasers ”) for a private placement (the “ Private Placement ”) of securities. The Purchasers include Dr. Avi Katz, Dr. Raluca Dinu, the holder of a promissory note issued by us, GigAcquisitions5, LLC, which is managed by Dr. Katz, Ross Taylor, Zeev Weiner, Daniel Dickson and an affiliate of James Greene. At the closing of the Private Placement on November 22, 2024, we issued (i) 4,383,558 shares (the “ Shares ”) of the Company’s common stock, par value $0.0001 per share (the “ Common Stock ”); and (ii) warrants with a term of five years from the initial

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exercise date (the “ Warrants ” and together with the Shares, the “ Securities ”) to purchase up to an additional 4,383,558 shares of Common Stock (all of such shares issuable upon exercise of the Warrants, the “ Warrant Shares ”). Pursuant to the terms of the Securities Purchase Agreement, GigAcquisitions5, LLC surrendered the promissory note issued to it for cancellation in its entirety in exchange for the purchase of Shares of Common Stock and Warrants for the purchase of Common Stock with a purchase price of $1.56 million.

The purchase price of each Share was $0.584, which represented 110% of the five-day volume weighted trading price for the Common Stock for the five-day period ending on November 12, 2024 (the “ Per Share Purchase Price ”), and the exercise price of each Warrant is $0.672. The aggregate gross proceeds to us from the Private Placement is approximately $2,560,000, before deducting the offering expenses payable by us, which expenses consist solely of legal fees. We intend to use the net proceeds from the offering for working capital.

Each Warrant will be exercisable for one share of Common Stock at an exercise price of $0.672 per share, and be exercisable beginning 6 months after its issuance at the closing of the Private Placement and ending 5 years after such issuance.

The Securities were sold without registration under the Securities Act of 1933, as amended (the