QT IMAGING HOLDINGS, INC. (QTI): debt financing — GigCapital5 extends business combination deadline to July 28, 2023 with $100K sponsor loan

QT IMAGING HOLDINGS, INC.

Sponsor deposited $100,000 into trust to extend deadline by one month to July 28, 2023.
Aggregate principal under extension note increased to $1,360,000; repaid upon business combination.
Additional $130,000 working capital loan from sponsor; total working capital note now $1,000,000.
Working capital note convertible at $10/unit into private-placement-like units at sponsor's election upon business combination.
Both notes are non-interest bearing and repayable upon consummation of initial 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 0.95

QT IMAGING HOLDINGS, INC. incurred convertible notes of $1,000,000 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Instrument: convertible notes
Principal: $1,000,000
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: incurrence

Exact text from the filing

On June 26, 2023, the Company further amended and restated the Working Capital Note (the “Eighth Restated Working Capital Note”) to reflect an additional principal amount of $130,000 extended by the Sponsor to the Company for a collective principal amount under the Eighth Restated Working Capital Note of $1,000,000.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

QT IMAGING HOLDINGS, INC. incurred debt of $1,360,000 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Principal: $1,360,000
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: incurrence

Exact text from the filing

On June 26, 2023, the Company further amended and restated the Extension Note (the “Ninth Restated Extension Note”) to reflect an additional principal amount of $100,000 extended by the Sponsor to the Company for a collective principal amount under the Ninth Restated Extension Note of $1,360,000.

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QT IMAGING HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-175243

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