QT IMAGING HOLDINGS, INC. (QTI): debt financing — GigCapital5 secures $1.566M in new sponsor notes for working capital

QT IMAGING HOLDINGS, INC.

Amended convertible note to $1.5M, adding $53,640; converts at $10/unit into 150K private placement units.
Issued new $66,360 non-convertible note to sponsor; both notes bear no interest, due upon business combination.
Proceeds for working capital; not deposited into trust; sponsor waived claims on trust account.
Full conversion of convertible note would result in 150,000 private placement units issued.

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 convertible notes of $1,500,000 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Instrument: convertible notes
Principal: $1,500,000
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: incurrence

Exact text from the filing

On December 13, 2023, the Company further amended and restated the Convertible Working Capital Note (the “Eleventh Restated Working Capital Note”) to reflect an additional principal amount of $53,640 extended by the Sponsor to the Company for a collective principal amount under the Eleventh Restated Working Capital Note of $1,500,000.

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

QT IMAGING HOLDINGS, INC. incurred loan of $66,360 with GigAcquisitions5, LLC at no interest maturing upon the consummation of a business combination.

Instrument: loan
Principal: $66,360
Counterparty: GigAcquisitions5, LLC
Rate: no interest
Maturity: upon the consummation of a business combination
Event: incurrence

Exact text from the filing

On December 13, 2023, the Company issued an additional unsecured non-convertible promissory note to the Sponsor for a collective principal amount of $66,360 (the “Non-Convertible Working Capital Note”).

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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 0001193125-23-297655

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