Company: QTIWW
Filing Date: 2025-12-29
Form Type: S-1/A
Source: 0001628280-25-058960
Chunk: 353

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-12-29
Form: S-1/A
Chunk 353
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88,692and $ 340,758, respectively.

On March 4, 2024, the Note principal and related accrued interest balance of $ 3,233,388and the US Capital Note principal balance of $ 200,000was converted into 119,756and 33,334shares of common stock, respectively. Additionally, warrants to purchase 5,440shares of the Company's common stock were net settled into 1,865shares of common stock.

Bridge Loan

In November 2023, the Company entered into a Securities Purchase Agreement and raised a private secured convertible bridge financing in the aggregate amount of $ 1,000,000(“Bridge Loan”) from fiveinvestors (“Bridge Lenders”). Each Bridge Loan of $ 200,000bore nointerest but had a cash option value at the date of maturity of 120%, or $ 240,000, of the Bridge Loan at each Bridge Lender’s option. The maturity date was the closing date of the Business Combination as defined in Note 1. The Bridge Loan conversion price was at $ 6.00per share on a post-business combination. On March 4, 2024, fourof the fiveBridge Loan holders elected the cash option and were paid an aggregate of $ 960,000on the Merger Date. Interest expense related to the payment premium was $ 160,000for the year ended December 31, 2024.

As of December 31, 2024, there was noamount outstanding for the Bridge Loan. As of December 31, 2023, the outstanding amount of the Bridge Loan, excluding the US Capital Note, was $ 774,337, net of unamortized debt issuance costs of $ 25,663. Interest expense from the amortization of debt issuance costs for the years ended December 31, 2024 and 2023 was $ 25,663and $ 21,592, respectively.

Yorkville Pre-Paid Advance

On March 4, 2024, the Company received the Pre-Paid Advance of $ 10,000,000from Yorkville and issued Yorkville the Yorkville Note in the amount of $ 10,000,000for such Pre-Paid Advance that was originally due 15months from the date of issuance, and interest shall accrue on the outstanding balance of the Yorkville Note at an annual rate equal to 6%, subject to an increase to 18% upon an