QT IMAGING HOLDINGS, INC. (QTI): debt financing — GigCapital5 Receives $225,000 in Additional Sponsor Loans and Extends Business Combination Deadline to December 28, 2022

QT IMAGING HOLDINGS, INC.

Sponsor GigAcquisitions5, LLC provided an additional $160,000 under the Second Restated Extension Note, increasing total to $480,000 for the trust account.
Sponsor also provided an additional $65,000 under the Second Restated Working Capital Note, increasing total to $195,000 for working capital.
The business combination deadline was extended by one month to December 28, 2022, with potential monthly extensions until March 28, 2023.
The working capital note is convertible at $10.00 per unit into up to 19,500 private placement units upon a business combination.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

QT IMAGING HOLDINGS, INC. amended convertible notes of additional principal amount of $65,000 with GigAcquisitions5, LLC at bear no interest maturing repayable in full upon the consummation of a business combination.

Instrument: convertible notes
Principal: additional principal amount of $65,000
Counterparty: GigAcquisitions5, LLC
Rate: bear no interest
Maturity: repayable in full upon the consummation of a business combination
Event: amendment

Exact text from the filing

On November 28, 2022, the Company further amended and restated the Working Capital Note (the “Second Restated Working Capital Note”) to reflect an additional principal amount of $65,000 extended by the Sponsor to the Company for a collective principal amount under the Second Restated Working Capital Note of $195,000.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

QT IMAGING HOLDINGS, INC. amended debt of additional principal amount of $160,000 with GigAcquisitions5, LLC at bear no interest maturing repayable in full upon the consummation of a business combination.

Principal: additional principal amount of $160,000
Counterparty: GigAcquisitions5, LLC
Rate: bear no interest
Maturity: repayable in full upon the consummation of a business combination
Event: amendment

Exact text from the filing

On November 28, 2022, the Company further amended and restated the Extension Note (the “Second Restated Extension Note”) to reflect an additional principal amount of $160,000 extended by the Sponsor to the Company for a collective principal amount under the Second Restated Extension Note of $480,000.

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-22-293429

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