QT Imaging Holdings Announces Favorable Amendment of Convertible Promissory Note
QT Imaging Holdings, Inc. (QTI)
Company Research
Source: Business Wire
NOVATO, Calif.--(BUSINESS WIRE)--QT Imaging Holdings, Inc. (NASDAQ:QTI), a medical device company engaged in research, development, and commercialization of innovative body imaging systems, is pleased to announce an amendment to its $10,000,000 convertible promissory note with YA II PN, Ltd. (the “Investor,” and such promissory note, the “Note”).On September 11, 2024, a trigger event associated with the share price of the company occurred under the terms of the Note. As a result, the company made a payment of $1,500,000 on September 13, 2024, and could have been obligated to make subsequent similar monthly payments. On September 26, 2024, the company and the Investor entered into an amendment of the Note, whereby the parties agreed to amend certain terms of the Note to reduce the company’s monthly payment obligations resulting from the trigger event.The maturity date of the Note was extended approximately 6 months from June 4, 2025, to December 15, 2025. Additionally, the amendmen
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QTI
Sec Filings
- 10/1/24 - Form 424B3
- 9/30/24 - Form 8-K
- 9/20/24 - Form 424B7
- QTI's page on the SEC website