QT Imaging, a medical device company engaged in research, development and commercialization of body imaging systems, secured $10.1 million in gross proceeds from a private placement of shares and warrants led by company insiders. The transaction closed on Feb. 27, 2025.
The financing included participation from directors and officers, who contributed approximately $1.8 million, as well as institutional investors and Imaging Associate Partners, an affiliate of the Couri Center for Gynecology and Integrative Women’s Health, which has deployed Breast Acoustic CT Scanners for patient use. Proceeds will be used to retire substantially all of the company’s debt, with the remainder supporting working capital needs.
“This strategic financing positions us to strengthen our financial foundation and streamline operations to deliver the minimum of 100 scanners demanded by our commercial backlog,” Raluca Dinu, CEO of QT Imaging, said. “We are honored by the confidence shown by our board and management team through their significant investment alongside reputable investors and partners.”
The company issued approximately 10.1 million shares of common stock at $1.00 per share, along with warrants to purchase up to approximately 10.1 million additional shares at an exercise price of $1.25 per share. The warrants are exercisable for five years following issuance.
