NOVATO, Calif. — QT Imaging Holdings said it has priced an underwritten public offering expected to raise $10 million in gross proceeds before underwriting discounts, commissions and other offering expenses.
The Novato medical device company, which develops radiation-free imaging technology for breast health management, said the offering includes 2 million shares of common stock, or pre-funded warrants in lieu of common stock.
Each share is being sold at a public offering price of $5. Each pre-funded warrant is being sold at the public offering price per share, less a nominal exercise price of $0.0001 per share. The warrants will be immediately exercisable, entitle the holder to purchase one share of common stock and may be exercised at any time until exercised in full.
Ladenburg Thalmann & Co. Inc. is serving as sole book-running manager for the offering, with Northland Capital Markets acting as co-manager.
“This capital raise marks an important milestone for our company and reflects strong investor confidence in our strategy, execution, and long-term market opportunity,” said Dr. Raluca Dinu, Chief Executive Officer of QT Imaging. “This financing along with the extension of the maturity date of our senior secured term loan by two years provide the Company with additional flexibility to focus on our commercial, clinical, and strategic growth initiatives.”
QT Imaging said it plans to use the net proceeds for working capital and general corporate purposes.
The offering is expected to close on or about May 18, subject to customary closing conditions.
The securities are being offered under a shelf registration statement on Form S-3 that was declared effective by the U.S. Securities and Exchange Commission on April 3, along with a related registration statement filed under Rule 462(b) of the Securities Act of 1933.
