secwatch.observer — SEC 8-K summary
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Issuer:     QT IMAGING HOLDINGS, INC. (QTI)
CIK:        0001844505
Form:       8-K
Filed at:   2024-09-13T23:59:59+00:00
Accession:  0001844505-24-000057
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 2.04
LLM model:  deepseek-v4-flash:cloud@v2

QT Imaging triggers accelerated payments under Yorkville note; first payment $1.52M
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- Floor Price Trigger on Sep 11, 2024: daily VWAP below $0.8768 for five trading days.
- Company obligated to make monthly payments of $1.5M principal +5% premium + accrued interest.
- First payment made Sep 13, 2024: $1,521,581.46 after applying 50% of Yorkville's share sale proceeds.
- Triggered Principal Amount reduction available by directing Yorkville to offset with up to 50% of net sale proceeds.
- Monthly payment obligation ceases if Floor Price reduced to 50% of VWAP or VWAP >110% of Floor Price for 5 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1844505/000184450524000057/0001844505-24-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1844505/000184450524000057/qti-20240911.htm
  HTML page:      https://secwatch.observer/filing/0001844505-24-000057

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