QT IMAGING HOLDINGS, INC. (QTI): debt financing — GigCapital5 receives $160K from sponsor to extend business combination deadline to Feb 28, 2023

QT IMAGING HOLDINGS, INC.

Sponsor deposited $160k into trust account; aggregate promissory note increased to $800k.
Business combination period extended by one month to February 28, 2023; may extend to March 28, 2023.
Working capital loan increased by $65k to $325k; convertible at $10/unit upon business combination.
Company previously announced Business Combination Agreement with QT Imaging (Dec 8, 2022); extension provides more time to close.

item 2.03 item 3.02 item 8.01 item 9.01

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. incurred debt of $325,000 with GigAcquisitions5, LLC at bear no interest.

Principal: $325,000
Counterparty: GigAcquisitions5, LLC
Rate: bear no interest
Event: incurrence

Exact text from the filing

On January 25, 2023, the Company further amended and restated the Working Capital Note (the “Fourth 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 $325,000.

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

QT IMAGING HOLDINGS, INC. incurred debt of $800,000 with GigAcquisitions5, LLC at bear no interest maturing repayable in full upon the consummation of a business combination.

Principal: $800,000
Counterparty: GigAcquisitions5, LLC
Rate: bear no interest
Maturity: repayable in full upon the consummation of a business combination
Event: incurrence

Exact text from the filing

On January 25, 2023, the Company further amended and restated the Extension Note (the “Fourth 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 Fourth Restated Extension Note of $800,000.

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8 debt financings filed in the last 30 days. Browse all debt financings →

QT IMAGING HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-015715

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