Company: QTIWW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001844505-25-000053
Chunk: 98

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part II, Item 1A
Chunk 98
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000,000 shares of its common stock at an exercise price of $0.40 per share pursuant to the Yorkville Warrant. The Yorkville Warrant is exercisable until February 26, 2030. As of March 31, 2025, the Yorkville Warrant to purchase 15,000,000 shares of common stock was outstanding. Both the Lynrock Lake Warrant and Yorkville Warrant are classified as liability.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Please refer to the Current Report on Form 8-K that the Company filed with the SEC on April 10, 2025 for information regarding a private placement that occurred in April 2025, subsequent to the quarter to which this Quarterly Report pertains.

The Company entered into a Securities Purchase Agreement, dated May 12, 2025 (the “Recanati Securities Purchase Agreement”), with Leon Recanati (the “Purchaser”) for a private placement (the “May 2025 Private Placement”) of securities. At the closing of the May 2025 Private Placement, the Company will issue (i) 205,339 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”); and (ii) a Common Stock Purchase Warrant (the “Recanati Warrant” and together with the Shares, the “Securities”) with a term of five years from the initial exercise date to purchase up to an additional 205,339 shares of Common Stock (all of such shares issuable upon exercise of the Recanati Warrant, the “Recanati Warrant Shares”).

The purchase price of each Share is $0.974, which represents 110% of the five-day volume weighted trading price for the Common Stock through May 9, 2025 (the “Per Share Purchase Price”), and the per share exercise price of the Recanati Warrant is $1.12. The aggregate gross proceeds to the Company from the May 2025 Private Placement will be approximately $200,000, before deducting the offering expenses payable by the Company, which expenses consist solely of legal fees. The Company intends to use the net proceeds from the offering for working capital purposes.

The Securities are being sold without registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on the exemptions provided by Section 4(a)(2) of the