# EDGAR Filing Document

**Accession Number:** 0001844505
**File Stem:** 0001844505-25-000061
**Filing Date:** 2025-6
**Character Count:** 15457
**Document Hash:** 0476af9be6c65e2dd45f65a97f9e90da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001844505-25-000061.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0001844505-25-000061

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250618

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250618

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** QT IMAGING HOLDINGS, INC.
- **CENTRAL INDEX KEY:** 0001844505
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 861728920
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40839
- **FILM NUMBER:** 251055228

**BUSINESS ADDRESS:**
- **STREET 1:** 3 HAMILTON LANDING
- **STREET 2:** SUITE 160
- **CITY:** NOVATO
- **STATE:** CA
- **ZIP:** 94949
- **BUSINESS PHONE:** 415-842-7250

**MAIL ADDRESS:**
- **STREET 1:** 3 HAMILTON LANDING
- **STREET 2:** SUITE 160
- **CITY:** NOVATO
- **STATE:** CA
- **ZIP:** 94949

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GigCapital5, Inc.
- **DATE OF NAME CHANGE:** 20210204

?xml version='1.0' encoding='ASCII'? qti-20250618

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**_________________________________________**

**FORM 8-K**

**_________________________________________**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934**

**June 18, 2025** 

**Date of Report (Date of earliest event reported)** 

**________________________________________________________**

**QT Imaging Holdings, Inc.**

**<u>(Exact name of Registrant as Specified in Charter)</u>**

**________________________________________________________**

---

| | | |
|:---|:---|:---|
| **<u>Delaware</u>** | **<u>001-40839</u>** | **<u>86-1728920</u>** |
| **(State or Other Jurisdiction of** | **(Commission** | **(IRS Employer** |
| **Incorporation or Organization)** | **File Number)** | **Identification Number)** |
| **<u>3 Hamilton Landing, Suite 160</u>** | **<u>3 Hamilton Landing, Suite 160</u>** | **<u>3 Hamilton Landing, Suite 160</u>** |
| **<u>Novato, CA 94949</u>** | **<u>Novato, CA 94949</u>** | **<u>Novato, CA 94949</u>** |
| **(Address of principal executive offices, including Zip Code)** | **(Address of principal executive offices, including Zip Code)** | **(Address of principal executive offices, including Zip Code)** |
| **<u>(650) 276-7040</u>** | **<u>(650) 276-7040</u>** | **<u>(650) 276-7040</u>** |
| **(Registrant's telephone number, including area code)** | **(Registrant's telephone number, including area code)** | **(Registrant's telephone number, including area code)** |

---

**________________________________________________________**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbols** | **Name of each exchange<br>on which registered** |
| **Common stock, par value $0.0001 per share** | **QTI**<sup>1</sup> | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

_______________________

<sup>1</sup>QT Imaging Holdings, Inc. (the "Company") has received written notice from The Nasdaq Stock Market LLC ("Nasdaq") that it has commenced proceedings to delist the Company's common stock (ticker symbol: QTI) from Nasdaq, and suspended trading in the Company's common stock pending the completion of such proceedings. As a result, effective January 28, 2025, the Company's common stock commenced trading in the over-the-counter market under the symbol "QTIH", and the trading of the common stock was upgraded to the OTCQB Venture Market on March 11, 2025.

------

**Item 8.01&nbsp;&nbsp;&nbsp;&nbsp; Other Items**

On June 18, 2025, QT Imaging Holdings, Inc. (the "<u>Company</u>") furnished an unaudited pro forma condensed consolidated balance sheet and statement of operations and comprehensive loss as of and for the three months ended March 31, 2025 (the "<u>Pro Forma Financial Information</u>"). The Pro Forma Financial Information gives effect to the amendments entered into by the Company on June 11, 2025 to the warrants previously issued to Lynrock Lake Master Fund LP and YA II PN, Ltd. that the Company disclosed on June 12, 2025 in a Current Report on Form 8-K filed on June 12, 2025 with the Securities and Exchange Commission (the "<u>SEC</u>"), as if these warrants, as amended, had been in existence as of March 31, 2025.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.**

(d)Exhibits:

---

| | |
|:---|:---|
| **Exhibit No.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Description** |
| 99.1 | <u>[QT Imaging Holdings, Inc. unaudited pro forma condensed consolidated balance sheet and statement of operations and consolidated loss as of and for the three months ended March 31, 2025.](exh991proformabalancesheet.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**<u>SIGNATURE</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| Dated: | June 18, 2025 | **QT Imaging Holdings, Inc.** | **QT Imaging Holdings, Inc.** |
|  |  | By: | /s/ Raluca Dinu |
|  |  | Name: | Raluca Dinu |
|  |  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** |  |  |  |
| **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | | | |
| **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET <br>AS OF MARCH 31, 2025** | **As Filed** | **Pro Forma Adjustment** | **Pro Forma** |
| **ASSETS** | | | | |  |  |  |
| Current assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | $2987503 | $— |  | $2987503 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Restricted cash and cash equivalents | 20000 |  |  | 20000 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable | 2782404 |  |  | 2782404 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Inventory | 2872401 |  |  | 2872401 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | 1151818 |  |  | 1151818 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets | 9814126 |  |  | 9814126 |  |  |  |
| Property and equipment, net | 163759 |  |  | 163759 |  |  |  |
| Operating lease right-of-use assets, net | 847643 |  |  | 847643 |  |  |  |
| Other assets | 39150 |  |  | 39150 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | $10864678 | $— |  | $10864678 |  |  |  |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT** |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | $869579 | $— |  | $869579 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities | 3887920 |  |  | 3887920 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Current maturities of long-term debt | 63180 |  |  | 63180 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Deferred revenue | 44643 |  |  | 44643 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Operating lease liabilities, current | 417379 |  |  | 417379 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities | 5282701 |  |  | 5282701 |  |  |  |
| Long-term debt | 697 |  |  | 697 |  |  |  |
| Related party notes payable | 3848725 |  |  | 3848725 |  |  |  |
| Operating lease liabilities | 548874 |  |  | 548874 |  |  |  |
| Warrant liability | 20215569 | (20206587) | (1) | 8982 |  |  |  |
| Earnout liability | 490000 |  |  | 490000 |  |  |  |
| Other liabilities | 685470 |  |  | 685470 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 31072036 | (20206587) |  | 10865449 |  |  |  |
| Stockholders' deficit: |  |  |  |  |  |  |  |
| Common stock, $0.0001 par value | 2765 |  |  | 2765 |  |  |  |
| Additional paid-in capital | 22866404 | 19488606 | (1) | 42355010 |  |  |  |
| Accumulated deficit | (43076527) | 717981 | (1) | (42358546) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total stockholders' deficit | (20207358) | 20206587 |  | (771) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and stockholders' deficit | $10864678 | $— |  | $10864678 |  |  |  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS <br>FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS <br>FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS <br>FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS <br>FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2025** | **QT IMAGING HOLDINGS, INC.<br>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS <br>FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2025** |
| | | **Pro Forma** | | |
| | **As Filed** | **Adjustment** | | **Pro Forma** |
| Revenue | $2798415 | $— |  | $2798415 |
| Cost of revenue | 986553 |  |  | 986553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross profit | 1811862 |  |  | 1811862 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Research and development | 852252 |  |  | 852252 |
| &nbsp;&nbsp;&nbsp;&nbsp; Selling, general and administrative | 2001341 |  |  | 2001341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total operating expenses | 2853593 |  |  | 2853593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loss from operations | (1041731) |  |  | (1041731) |
| Other expense, net | (8749453) |  |  | (8749453) |
| Change in fair value of warrant liability | (704729) | 717981 | (1) | 13252 |
| Change in fair value of derivative liability | 101300 |  |  | 101300 |
| Change in fair value of earnout liability | (50000) |  |  | (50000) |
| Interest expense, net | (691387) |  |  | (691387) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net loss and comprehensive loss | $(11136000) | $717981 |  | $(10418019) |
| Net loss per share - basic and diluted | $(0.40) | $0.02 |  | $(0.38) |
| Weighted-average number of common shares used in computing net loss per common share | 27515543 |  |  | 27515543 |

---

(1) On June 11, 2025, we entered into amendments to the warrant agreements dated February 26, 2025 with Lynrock Lake Master Fund LP and YA II PN, LTD. (the "Lynrock Lake Warrant and Yorkville Warrant"), which caused the classification of the Lynrock Lake Warrant and Yorkville Warrant to change from liability-classified to equity-classified. The pro forma adjustment reflects the accounting treatment of the Lynrock Lake Warrant and Yorkville Warrant as if both were equity-classified immediately after their issuance on February 26, 2025. The adjustment of $20,206,587 to the warrant liability includes the initial fair value recognition of $19,488,606 as of February 26, 2025. Subsequently, the Company recorded a fair value adjustment of $717,981 as of March 31, 2025 in the change in fair value of warrant liability within the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2025.

The pro forma adjustments and resulting adjusted financial statements have not been prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). As stated above, we have prepared these adjustments to reflect the accounting treatment that would have occurred if the Lynrock Lake Warrant and Yorkville Warrant would have reflected at their inception the terms resulting from the June 11, 2025 amendments. We believe that this non-GAAP presentation provides useful information to understand the effect of the amendments to the Lynrock Lake Warrant and Yorkville Warrant now that the amendments have been made and we will be accounting for these changes accordingly in subsequent financial reporting periods. The tables provide a reconciliation to the comparable GAAP financial presentation.

<br>