Company: QTIWW
Filing Date: 2025-01-31
Form Type: S-1/A
Source: 0001628280-25-003316
Chunk: 145

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-31
Form: S-1/A
Chunk 145
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ometric Brownian Motion framework, and the current traded market price of the Company’s Common Stock as the initial input. The resulting fair value is based on the average of the number of shares that will be paid out for each triggering event over a statistically significant number of simulations.

The significant assumptions included: An expected volatility of revenue of 21.0%; a discount rate applicable to revenue of 10.2%; a risk-free rate (revenue and equity model) of 4.5%; a risk premium of 5.7%; cost of debt of 22.0%; credit risk spread of 17.5%; and an equity volatility of 80.0%.”

(J4) Reflects the payment of four of the Senior Secured Convertible Notes issued by QT Imaging at 120 percent of the principal balance of $800,000 at the Closing as if the Closing occurred as of December 31, 2023.

(J5) Reflects the conversion of certain Senior Secured Convertible Notes issued by QT Imaging immediately prior to the Closing of the Business Combination into such number of validly issued, fully paid and non-assessable shares of QT Imaging Common Stock that upon the completion of the Business Combination and the application of the Exchange Ratio was exchanged for such consideration as was provided for in the Business Combination Agreement, including that number of shares of the Company’s Common Stock as was equal in the aggregate to 100,000 shares of the Company’s Common Stock. Upon conversion of aforementioned Senior Secured Convertible Notes, the unamortized associated deemed debt discount was fully expensed.

<div align='center'>89</div>

### PRO FORMA COMBINED STATEMENT OF OPERATIONS

#### FOR THE YEAR ENDED DECEMBER 31, 2023
<div align='center'>(unaudited)</div>

|                                                                |     | QT Imaging, Inc. 
 (Historical)     |            |     | GigCapital5, Inc. 
 (Historical)      |            |     | Pro Forma   
 Adjustments |             |     |     |     | Pro Forma    
 Statement of 
 Operations   |             |
|:---------------------------------------------------------------|:----|:-----------------|-----------:|:----|:------------------|-----------:|:----|:------------|------------:|:----|:----|:----|:-------------|------------:|
| Revenue                                                        |     | $                |     40,355 |     | $                 |          — |     |