Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 416

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 416
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 oneshare of common stock at a price of $ 11.50per full share.

On September 28, 2021, the Company consummated the Offering of 23,000,000Public Units, including the issuance of 3,000,000Public Units as a result of the Underwriters exercise in full of their over-allotment option. The Public Units were sold at a price of $ 10.00per Public Unit, generating gross proceeds to the Company of $ 230,000,000.

Simultaneously with the closing of the Offering, the Company consummated the closing of a private placement sale (the “Private Placement”) to the Company’s sponsor GigAcquisitions5, LLC, a Delaware limited liability company (the “Founder” or “Sponsor”), of 795,000units (the “Private Placement Units”), at a price of $ 10.00per Private Placement Unit. The Private Placement generated aggregate gross proceeds of $ 7,950,000.

Following the closing of the Offering, net proceeds in the amount of $ 225,400,000from the sale of the Units and proceeds in the amount of $ 6,900,000from the sale of Private Placement Units, for a total of $ 232,300,000, were placed in a trust account (the “Trust Account”), which is described further below.

Transaction costs amounted to $ 13,193,740, consisting of $ 4,600,000of underwriting fees, $ 9,200,000of deferred underwriting fees for the Underwriters, and $ 843,740of offering costs, of which $ 25,000remains in accounts payable as of December 31, 2023, partially offset by the reimbursement of $ 1,450,000of offering expenses by the Underwriters. On March 20, 2023, one of the Underwriters, Wells Fargo, waived all of their portion of the deferred underwriting fees totaling $ 6,440,000. The Company’s remaining cash after payment of the offering costs will be held outside of the Trust Account for working capital purposes.

Extensions

The Company’s initial public offering prospectus and Amended and Restated Certificate of Incorporation provided that the Company initially had until September 28, 2022 (the date which was 12 months after the consummation of the Offering) to complete the Business Combination (the “Combination Period”). On September

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