Company: QTIWW
Filing Date: 2025-01-31
Form Type: S-1/A
Source: 0001628280-25-003316
Chunk: 392

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-31
Form: S-1/A
Chunk 392
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, QT Imaging issued to each of DFIN and iBankers in satisfaction of $ 500,000and $ 600,000of fees owed to DFIN and iBankers, respectively, for their services, that number of shares of QT Imaging which at the completion of the Business Combination were converted in accordance with the terms of the Business Combination Agreement into 200,000and 240,000respective share s of the Company’s common stock. The issuance of these shares settled $ 1,100,000of net assumed liabilities from the business combination with an additional transaction expense of $ 453,200recorded as selling, general and administrative expense within the condensed consolidated statement of operations and comprehensive loss during the nine months ended September 30, 2024. Notransaction expense related to this agreement was recorded during the three months ended September 30, 2024.

In February 2024, QT Imaging and LionBay Ventures (“LionBay”) entered into a Settlement and Termination Agreement (“Termination Agreement”). Pursuant to the terms of the Termination Agreement, QT Imaging terminated its Service Agreement with LionBay dated May 18, 2021 and the First Amendment of the Service Agreement dated September 9, 2021 (collectively as “Service Agreement”). In exchange for the termination of the Service Agreement and the termination of options to purchase 17,000shares of common stock with a strike price of $ 8.50per option that were issued as part of the Service Agreement, QT Imaging agreed to issue that number of shares that converted into 10,000shares of the Company’s common stock. The issuance of these shares resulted in an additional transaction expense of $ 35,300 recorded as selling, general and administrative expense within the condensed consolidated statement of operations and comprehensive loss during the nine months ended September 30, 2024. Notransaction expense related to this agreement was recorded during the three months ended September 30, 2024.

In February 2024, QT Imaging received $ 500,000in exchange for that number of shares that converted into 200,000shares of the Company's common stock in accordance with the terms of the subscription agreement and Business Combination Agreement. The issuance of these shares resulted in an additional transaction expense of $ 206,000 recorded as selling, general and administrative expense within the condensed consolidated statement of operations and comprehensive loss during the nine months ended September 30, 2024. Notransaction expense related to this agreement was recorded during the three