Company: QTIWW
Filing Date: 2025-01-31
Form Type: S-1/A
Source: 0001628280-25-003316
Chunk: 117

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-31
Form: S-1/A
Chunk 117
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 the date of the Second Amendment. Furthermore, pursuant to the Third Amendment, we and Yorkville agreed that for $1.5 million of the then current outstanding balance due under the Yorkville Note (principal and unpaid accrued interest), the Fixed Price for conversion shall be modified to $0.584 per share, and for the remainder of the balance, the Fixed Price shall not be changed but shall remain $4.61395 per share as provided for in the Yorkville Note when we issued it on March 4, 2024. On November 4, 2024, Yorkville converted $254,593 of outstanding principal under the Yorkville Note into 384,059 shares of Common Stock with an applicable conversion price of $0.6629 per share. On December 6, 2024, Yorkville converted $259,589 of outstanding principal under the Yorkville Note into 519,177 shares of Common Stock with an applicable conversion price of $0.50 per share. The Third Amendment provides that the aggregate purchase price owed to us from the first Advance that occurs pursuant to the terms of the SEPA shall be paid by Yorkville offsetting the amount of the Advance Proceeds against an equal amount outstanding under the Yorkville Note (first towards accrued and unpaid interest, and then towards outstanding principal and the corresponding payment premium in respect of such principal amount, if applicable), and that for any subsequent Advances pursuant to the terms of the SEPA, Yorkville shall pay half of such Advance Proceeds directly to us and the other half of such Advance Proceeds shall be paid by Yorkville offsetting the amount of the Advance Proceeds against an equal amount outstanding under the Yorkville Note (first towards accrued and unpaid interest, and then towards outstanding principal and the corresponding payment premium in respect of such principal amount, if applicable). On January 9, 2025, we delivered our first Advance

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Notice under the SEPA for the sale of 885,000 shares of Common Stock. This resulted in the reduction of an additional $182,682 in principal of the Yorkville Note.

Moreover, although the SEPA provides that we may sell up to an aggregate of $50,000,000 of shares of Common Stock to Yorkville, only 25,375,000 shares of Common Stock are currently registered for resale. If we elect to sell to Yorkville all of the 25,375,000 shares of the Common Stock currently registered for resale,