Company: QTIWW
Filing Date: 2025-11-03
Form Type: S-1
Source: 0001628280-25-048373
Chunk: 268

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-11-03
Form: S-1
Chunk 268
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 of the Term Loans (as defined in the Amended Credit Agreement) to $15,100,000. The proceeds of Tranche B were used to repurchase the Warrant from Yorkville pursuant to the terms of the Warrant Repurchase Agreement. The Company has an obligation to pay down Tranche B at a premium out of net cash proceeds which the Company may raise via issuance of the Company’s capital stock.

On October 6, 2025, the Company used a portion of the proceeds from the Third Private Placement to repay in full Tranche B.

#### Lynrock Lake Warrant
Furthermore, in connection with the Lynrock Lake Term Loan, the Company issued the Lynrock Lake Warrant to Lynrock Lake. 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 the exercise price provided for in the Warrant Agreement or the fair market value of a share of Common Stock from the immediately prior trading day.

Extinguishment of Yorkville Note and Issuance of Warrant

On November 16, 2023, the Company entered into the SEPA with 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 Yorkville as the Pre-Paid Advance as evidenced by the Promissory Note. 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 the Promissory Note. The parties subsequently amended the Yorkville Financing Documents pursuant to the First Amendment, the Second Amendment, and the Third Amendment.

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On February 26, 2025, the Company used a portion of the proceeds borrowed from Lynrock Lake pursuant to the Credit Agreement to pay Yorkville an amount equal to $3,000,000 in cash and issued the Yorkville Warrant