QT IMAGING HOLDINGS, INC. (QTI): debt financing — GigCapital5 increases working capital note by $381,360 to $1.45M

QT IMAGING HOLDINGS, INC.

Aggregate principal under working capital note raised to $1,446,360 with $381,360 additional loan from Sponsor.
Note is unsecured, non-interest bearing, repayable upon consummation of a business combination.
Sponsor may convert at $10.00/unit into units identical to private placement units (1 share + 1 warrant).
Full conversion would issue 144,636 private placement units; proceeds used for working capital, not trust account.

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 $381,360 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Instrument: convertible notes
Principal: $381,360
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: amendment

Exact text from the filing

On October 27, 2023, the Company further amended and restated the Working Capital Note (the “Tenth Restated Working Capital Note”) to reflect an additional principal amount of $381,360 extended by the Sponsor to the Company for a collective principal amount under the Tenth Restated Working Capital Note of $1,446,360.

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Source: SEC EDGAR

accession 0001193125-23-267233

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