secwatch.observer — SEC 8-K summary
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Issuer:     QT IMAGING HOLDINGS, INC. (QTI)
CIK:        0001844505
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001193125-24-058805
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QT Imaging completes SPAC merger; trades as QTI; issues $11.5M convertible notes
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- Business combination with GigCapital5 closed on March 4, 2024; common stock begins trading on Nasdaq as QTI on March 5, 2024.
- Issued $10M convertible promissory note to Yorkville (6% OID, convertible at lower of $4.61 or 95% of VWAP, floor price $2.00).
- Issued $1.5M convertible note to Cable Car (no interest, due in 13 months, convertible at $2.00/share; 180,000 shares issued as fee).
- Issued 740,000 shares to William Blair under Subscription Agreement for services; Lock-up imposed on CEO John Klock for 6 months.
- GigAcquisitions5 converted $943,640 of Working Capital Note into 94,364 shares and 94,364 warrants; remaining $556,360 repaid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1844505/000119312524058805/0001193125-24-058805-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1844505/000119312524058805/d807607d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-058805

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer