Company: QTIWW
Filing Date: 2025-12-29
Form Type: S-1/A
Source: 0001628280-25-058960
Chunk: 406

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-12-29
Form: S-1/A
Chunk 406
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4.3 | % |     |   |           4.4 | % |
| Expected annual dividend yield |     |   |                 — | % |     |   |             — | % |

The activity for the fair value of the Lynrock Lake Warrant during the three and nine months ended September 30, 2025 were as follows:

| Beginning balance, January 1, 2025                              |     | Lynrock Lake Warrant |           — |            |
|:----------------------------------------------------------------|:----|:---------------------|------------:|-----------:|
| Fair value at issuance                                          |     |                      |             | 16,496,084 |
| Change in fair value                                            |     |                      |     606,186 |            |
| Ending balance, March 31, 2025                                  |     |                      |  17,102,270 |            |
| Change in fair value                                            |     |                      |   2,294,669 |            |
| Reclassification of warrant liability upon warrant modification |     |                      | -19,396,939 |            |
| Ending balance, June 30, 2025 and September 30, 2025            |     | $                    |           — |            |

On February 26, 2025, the Company issued to Yorkville a warrant to purchase 5,000,071shares of common stock at an exercise price of $ 1.20per share pursuant to the “Yorkville Warrant to fully settle and discharge the Company’s obligations under the Yorkville Note and extinguish the Yorkville Note as having been fully performed. The Yorkville Warrant is exercisable until February 26, 2030. Yorkville may cashless exercise the Yorkville Warrant. The Yorkville Warrant is also subject to adjustments in the event that the Company’s common stock undergoes a split, reverse-split or similar event. Furthermore, the Yorkville Warrant has provided the holder with piggyback registration rights. On June 11, 2025, the Yorkville Warrant was amended to update the provisions that would trigger cash settlement such that, when such events occur, the holders of the warrants receive the same form of consideration as the underlying stockholders. According to ASC 815-40, Derivatives and Hedging: Contracts in an Entities Own Equity , equity classification is permitted for an instrument that requires net-cash settlement if the holders of the contract’s underlying shares receive the same form of consideration in