QT IMAGING HOLDINGS, INC. (QTI): debt financing — GigCapital5 extends business combination deadline to August 28, 2023; receives $165k in sponsor loans

QT IMAGING HOLDINGS, INC.

$100k deposited into trust to extend business combination deadline by one month to August 28, 2023.
Extension note principal increased to $1.46M; non-interest bearing, repayable upon consummation.
Working capital loan of $65k added, note total $1.065M, convertible at sponsor's election into units at $10/unit.
Both promissory notes are interest-free and due upon initial business combination.
If converted, up to 106,500 private placement units would be issued (1 share + 1 warrant each).

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 loan of $1,460,000 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Instrument: loan
Principal: $1,460,000
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: amendment

Exact text from the filing

On July 25, 2023, the Company further amended and restated the Extension Note (the “Tenth 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 Tenth Restated Extension Note of $1,460,000.

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

QT IMAGING HOLDINGS, INC. amended convertible notes of $1,065,000 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Instrument: convertible notes
Principal: $1,065,000
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: amendment

Exact text from the filing

On July 25, 2023, the Company further amended and restated the Working Capital Note (the “Ninth 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 Ninth Restated Working Capital Note of $1,065,000.

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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 0001193125-23-193533

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