Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 401

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 401
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 and have been classified as Level 2 financial instruments. As of June 30, 2025 and December 31, 2024 , a to tal of 296,445Priv ate Warrants were outstanding at an approximate fair value o f $ 0.087and $ 0.075p er warrant, respectively. See Note 10.

<div align='center'>F-61</div>

#### QT IMAGING HOLDINGS, INC.

### Notes to Condensed Consolidated Financial Statements
<div align='center'>(Unaudited)</div>

The activity for the fair value of the warrant liability during the three and six months ended June 30, 2025 were as follows:

|                                    |     | Private Warrants |         |
|:-----------------------------------|:----|:-----------------|--------:|
| Beginning balance, January 1, 2025 |     | $                |  22,234 |
| Change in fair value               |     |                  | -13,252 |
| Ending balance, March 31, 2025     |     |                  |   8,982 |
| Change in fair value               |     |                  |  16,809 |
| Ending balance, June 30, 2025      |     | $                |  25,791 |

On February 26, 2025, the Company entered into the Credit Agreement that provides the Lynrock Lake Term Loan with Lynrock Lake. In connection with the Lynrock Lake Term Loan, the Company issued to Lynrock Lake, pursuant to the terms of a Warrant to Purchase Common Stock (the “Lynrock Lake Warrant”), a warrant to purchase 20,333,623shares of common stock at an exercise price of $ 1.20per share. The Lynrock Lake Warrant is exercisable until February 26, 2035. Lynrock Lake may cashless exercise the Lynrock Lake Warrant. The Lynrock Lake Warrant is also subject to anti-dilution adjustments to the exercise price and the number of shares which may be purchased upon exercise of the Lynrock Lake Warrant in the event that the Company issues shares of common stock (or derivative securities) at a price that is either less than th e $ 1.20exe rcise price or the fair market value of a share of common stock from the immediately prior trading day. On June 11, 2025, the Lynrock Lake Warrant was amended to update the provisions that would