QT Imaging Holdings Receives $10.1 Million in New Funding to Support Working Capital and Retire Debt
QT Imaging Holdings (OTC:QTIH) has secured $10.1 million in financing from Lynrock Lake Master Fund LP through a secured note maturing in March 2027. The funding will support working capital needs for 2025-2026, particularly for manufacturing products to fulfill orders under their distribution agreement with NXC Imaging.
The company has utilized part of the funds to repay the Cable Car Note and settle Yorkville Note obligations by paying $3 million in cash and issuing a 5-year warrant for 15 million shares. After debt settlements, $5.5 million remains for working capital before transaction costs.
The financing aims to support the delivery of at least 100 scanners over the next two years to their strategic partner, expected to generate $45 million in revenue.
QT Imaging Holdings (OTC:QTIH) ha ottenuto 10,1 milioni di dollari di finanziamento da Lynrock Lake Master Fund LP attraverso una nota garantita che scade a marzo 2027. Il finanziamento supporterà le esigenze di capitale circolante per il 2025-2026, in particolare per la produzione di prodotti destinati a soddisfare gli ordini ai sensi del loro accordo di distribuzione con NXC Imaging.
L'azienda ha utilizzato parte dei fondi per rimborsare la Cable Car Note e risolvere gli obblighi legati alla Yorkville Note, pagando 3 milioni di dollari in contanti e emettendo un warrant di 5 anni per 15 milioni di azioni. Dopo i rimborsi del debito, 5,5 milioni di dollari rimangono per il capitale circolante prima dei costi di transazione.
Il finanziamento mira a supportare la consegna di almeno 100 scanner nei prossimi due anni al loro partner strategico, con un fatturato previsto di 45 milioni di dollari.
QT Imaging Holdings (OTC:QTIH) ha asegurado 10,1 millones de dólares en financiamiento de Lynrock Lake Master Fund LP a través de una nota garantizada que vence en marzo de 2027. El financiamiento apoyará las necesidades de capital de trabajo para 2025-2026, particularmente para la fabricación de productos para cumplir con los pedidos bajo su acuerdo de distribución con NXC Imaging.
La compañía ha utilizado parte de los fondos para pagar la Cable Car Note y saldar las obligaciones de la Yorkville Note, pagando 3 millones de dólares en efectivo y emitiendo un warrant de 5 años por 15 millones de acciones. Después de los acuerdos de deuda, 5,5 millones de dólares permanecen para capital de trabajo antes de los costos de transacción.
El financiamiento tiene como objetivo apoyar la entrega de al menos 100 escáneres en los próximos dos años a su socio estratégico, que se espera genere 45 millones de dólares en ingresos.
QT Imaging Holdings (OTC:QTIH)는 Lynrock Lake Master Fund LP로부터 1천만 1천 달러의 자금을 확보했습니다. 이는 2027년 3월 만기되는 담보 노트를 통해 이루어진 것입니다. 이 자금은 2025-2026년 동안의 운영 자본 필요를 지원하며, 특히 NXC Imaging과의 배급 계약에 따른 주문을 이행하기 위한 제품 제조를 지원합니다.
회사는 자금의 일부를 사용하여 Cable Car Note를 상환하고 Yorkville Note 의무를 정산하기 위해 300만 달러를 현금으로 지급하고 1,500만 주에 대한 5년 만기 워런트를 발행했습니다. 부채 정산 후, 550만 달러가 거래 비용 전 운영 자본으로 남아 있습니다.
이 자금 조달은 향후 2년 동안 전략적 파트너에게 최소 100대의 스캐너를 제공하는 것을 지원하는 것을 목표로 하며, 이는 4,500만 달러의 수익을 창출할 것으로 예상됩니다.
QT Imaging Holdings (OTC:QTIH) a obtenu un financement de 10,1 millions de dollars de Lynrock Lake Master Fund LP par le biais d'une note garantie arrivant à échéance en mars 2027. Ce financement soutiendra les besoins en fonds de roulement pour 2025-2026, en particulier pour la fabrication de produits destinés à satisfaire les commandes dans le cadre de leur accord de distribution avec NXC Imaging.
La société a utilisé une partie des fonds pour rembourser la Cable Car Note et régler les obligations liées à la Yorkville Note en payant 3 millions de dollars en espèces et en émettant un bon de souscription de 5 ans pour 15 millions d'actions. Après les règlements de dettes, 5,5 millions de dollars restent pour le fonds de roulement avant les frais de transaction.
Le financement vise à soutenir la livraison d'au moins 100 scanners au cours des deux prochaines années à leur partenaire stratégique, qui devrait générer 45 millions de dollars de revenus.
QT Imaging Holdings (OTC:QTIH) hat 10,1 Millionen Dollar an Finanzierung von Lynrock Lake Master Fund LP über eine gesicherte Anleihe erhalten, die im März 2027 fällig wird. Die Finanzierung wird die Betriebskapitalbedürfnisse für 2025-2026 unterstützen, insbesondere für die Herstellung von Produkten zur Erfüllung von Bestellungen im Rahmen ihrer Vertriebsvereinbarung mit NXC Imaging.
Das Unternehmen hat einen Teil der Mittel verwendet, um die Cable Car Note zurückzuzahlen und die Verpflichtungen aus der Yorkville Note zu begleichen, indem es 3 Millionen Dollar in bar zahlte und ein 5-jähriges Warrant für 15 Millionen Aktien ausgab. Nach den Schuldenregelungen verbleiben 5,5 Millionen Dollar für das Betriebskapital vor Transaktionskosten.
Die Finanzierung zielt darauf ab, die Lieferung von mindestens 100 Scannern in den nächsten zwei Jahren an ihren strategischen Partner zu unterstützen, von denen erwartet wird, dass sie 45 Millionen Dollar Umsatz generieren.
- Secured $10.1M new financing
- Expected $45M revenue from 100 scanner orders
- $5.5M available working capital
- Complete debt settlement and SEPA termination
- Significant dilution through 15M share warrant issuance
- Large portion of new funding ($4.6M) used for debt repayment
Repays all remaining debt used to fund the 2024 deSPAC process and terminates the SEPA line
“This strategic financing positions us to strengthen our financial foundation and streamline operations to deliver the minimum of 100 scanners demanded by our strategic partner over the next two years, which will result in
The Company intends to use net proceeds from the transaction for its working capital needs in 2025 and 2026, including funding the cost of manufacturing products to fulfill orders under the Company’s previously announced distribution agreement with NXC Imaging, Inc. In addition, the Company has repaid the secured Cable Car Note, as defined in the Company’s most recent Prospectus, and fully settled its obligations under the Yorkville Note and terminated the Yorkville SEPA by paying
About QT Imaging Holding, Inc.
QT Imaging Holdings, Inc. is a public (OTC: QTIH) medical device company engaged in research, development, and commercialization of innovative body imaging systems using low frequency sound waves. QT Imaging Holdings, Inc. strives to improve global health outcomes. Its strategy is predicated upon the fact that medical imaging is critical to the detection, diagnosis, and treatment of disease and that it should be safe, affordable, accessible, and centered on the patient’s experience. For more information on QT Imaging Holdings, Inc., please visit the company’s website at www.qtimaging.com.
Breast Acoustic CT™ is a trademark of an affiliate of QT Imaging Holdings, Inc.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as “will,” and “expect,” or the negative thereof or comparable terminology, and include (without limitation) statements regarding plans for QT Imaging Holdings, new product development and introduction, and product sales growth and projected revenues. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. These risks include, but are not limited to: research results from the use of the Breast Acoustic CT™ Scanner, the ability of QT Imaging Holdings to sell and deploy the Breast Acoustic CT™ Scanner, the ability to extend product offerings into new areas or products, the ability to commercialize technology, unexpected occurrences that deter the full documentation and “bring to market” plan for products, trends and fluctuations in the industry, changes in demand and purchasing volume of customers, unpredictability of suppliers, the ability to attract and retain qualified personnel and the ability to move product sales to production levels. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of QT Imaging Holding’s (and its predecessor, GigCapital5, Inc.) filings with the SEC, and in its other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to QT Imaging Holdings as of the date hereof, and QT Imaging Holdings assumes no obligation to update any forward-looking statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250227833455/en/
For media inquiries, please contact:
Stas Budagov
Chief Financial Officer
Stas.Budagov@qtimaging.com
Source: QT Imaging Holding, Inc.
FAQ
How much new funding did QT Imaging Holdings (QTIH) receive and from whom?
What is the expected revenue from QTIH's strategic partnership for scanner delivery?
How much working capital remains from QTIH's new financing after debt settlement?
What were the terms of QTIH's Yorkville Note settlement?
