Company: QTIWW
Filing Date: 2025-02-28
Form Type: 8-K
Source: 0001844505-25-000028
Chunk: 4

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-02-28
Form: 8-K
Item: Item 1.01
Chunk 4
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”) with YA II PN, Ltd., a Cayman Islands exempt limited partnership (“Yorkville”), pursuant to which Yorkville agreed, subject to the conditions therein, to purchase from the Company shares of its Common Stock for a value of up to $50,000,000 of which $10,000,000 was to be advanced by the Investor as evidenced by a promissory note (such advance, the “Pre-Paid Advance”). Furthermore, as previously disclosed by the Company in a Current Report on Form 8-K filed on March 5, 2024 with the SEC, the Company, as consideration for the Pre‑ Paid Advance, on March 4, 2024 issued to Yorkville a promissory note (the “ Yorkville Note”, and together with the SEPA, the “Yorkville Financing Documents”). The parties subsequently amended the Yorkville Financing Documents pursuant to that certain First

Amendment to the Yorkville Financing Documents, dated September 26, 2024 (the “First Amendment”), that certain Second Amendment, dated October 31, 2024 to the Yorkville Financing Documents (the “ Second Amendment”), and that certain Third Amendment, dated January 9, 2025 (the “Third Amendment”), as previously disclosed in respective Current Reports on Form 8-K filed with the SEC on September 30, 2024, October 31, 2024, and January 10, 2025.

On February 26, 2025, the Company used a portion of the proceeds of the Lynrock Lake Term Loan to pay Yorkville an amount equal to $3,000,000 in cash and issued to Yorkville warrants to purchase 15,000,000 shares of its Common Stock at an exercise price of $0.40 per share pursuant to a Warrant to Purchase Common Stock (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.

The Company and Yorkville also entered into that certain Termination Agreement, dated February 26, 2025 (the “Termination Agreement