QT IMAGING HOLDINGS, INC. (QTI): debt financing — GigCapital5 secures $160K extension loan and $65K working capital loan from sponsor, deadline to Jan 28, 2023

QT IMAGING HOLDINGS, INC.

Sponsor deposited $160K into trust account; total extension loan outstanding $640K.
Business combination deadline extended to January 28, 2023; may be further extended monthly to March 28, 2023 for $160K per month.
Sponsor provided $65K working capital loan (total $260K), convertible into units at $10.00/unit upon business combination.
Company previously announced business combination agreement with QT Imaging on December 8, 2022.
Extension funded by sponsor; interest-free loans, payable upon business combination closing.

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 $260,000 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Instrument: convertible notes
Principal: $260,000
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: amendment

Exact text from the filing

On December 27, 2022, the Company further amended and restated the Working Capital Note (the “Third 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 $260,000.

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

QT IMAGING HOLDINGS, INC. amended loan of $640,000 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Instrument: loan
Principal: $640,000
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: amendment

Exact text from the filing

On December 27, 2022, the Company further amended and restated the Extension Note (the “Third 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 Third Restated Extension Note of $640,000.

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Source: SEC EDGAR

accession 0001193125-22-313144

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