NOVATO, Calif. - QT Imaging Holdings, Inc. (NASDAQ:QTI) announced the pricing of an underwritten public offering of 2,000,000 shares of common stock or pre-funded warrants for gross proceeds of $10 million.
The medical device company set the public offering price at $5.00 per share, a discount to the current stock price of $6.71. The offering represents about 12% dilution. Pre-funded warrants are being sold at $4.9999 per warrant.
Ladenburg Thalmann & Co. Inc. serves as sole book-running manager, with Northland Capital Markets as co-manager. The company intends to use net proceeds for working capital and general corporate purposes.
CEO Dr. Raluca Dinu said the financing and extension of the senior secured term loan provide additional flexibility to focus on growth initiatives. The company maintains a current ratio of 2.81.
QT Imaging develops medical imaging systems using low-frequency sound waves and is commercializing radiation-free imaging technology for breast health. The securities are offered pursuant to a shelf registration statement on Form S-3.
