secwatch.observer — SEC 8-K summary
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Issuer:     QT IMAGING HOLDINGS, INC. (QTI)
CIK:        0001844505
Form:       8-K
Filed at:   2024-11-01T23:59:59+00:00
Accession:  0001844505-24-000069
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QT Imaging amends $10M convertible note: maturity extended to Mar 2026, floor price cut to $0.50
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- Maturity of $10M convertible note extended from Dec 15, 2025 to Mar 31, 2026.
- Monthly payments of $500k plus premium and interest begin Feb 15, 2025; payments suspended until then.
- Floor price reduced from prior level to $0.50 per share; first $500k of conversions before Jan 15, 2025 reduce principal.
- Company anticipates Nasdaq delisting; lender consents if best efforts to relist and OTCQX/OTCQB listing within 30 days.
- New automatic event of default triggers if any third-party creditor attempts foreclosure on company assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1844505/000184450524000069/0001844505-24-000069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1844505/000184450524000069/qti-20241031.htm
  HTML page:      https://secwatch.observer/filing/0001844505-24-000069

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