SCHEDULE 13G/A: Lynrock Lake LP and Affiliates Disclose 9.6% Stake in QT Imaging Holdings, Inc.

Lynrock Lake LP, Lynrock Lake Partners LLC, and Cynthia Paul have collectively reported a 9.6% beneficial ownership stake in QT Imaging Holdings, Inc., as detailed in an amended Schedule 13G filing.

Summary

• Lynrock Lake LP, Lynrock Lake Partners LLC, and Cynthia Paul (collectively, the "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in QT Imaging Holdings, Inc.
• As of March 31, 2025, the Reporting Persons collectively beneficially owned 2,666,245 shares of QT Imaging Holdings, Inc.'s Common Stock.
• This ownership represents 9.6% of the Issuer's outstanding Common Stock.
• The percentage is calculated based on 27,653,210 shares of Common Stock outstanding as of March 31, 2025, as reported in the Issuer's Form 10-Q filed on May 13, 2025.
• Lynrock Lake LP, as the investment manager of Lynrock Lake Master Fund LP, has sole voting and investment power over these securities.
• Cynthia Paul, as the Chief Investment Officer of Lynrock Lake LP and Sole Member of Lynrock Lake Partners LLC, may be deemed to exercise voting and investment power.
• The Reporting Persons hold sole voting power and sole dispositive power over all 2,666,245 shares.
• The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain subjective language or performance metrics that would indicate a positive or negative sentiment. It is neutral in tone.

Positives

• A significant institutional investor, Lynrock Lake LP, maintains a substantial stake (9.6%) in QT Imaging Holdings, Inc., potentially signaling confidence in the company's long-term prospects.
• The filing indicates that the shares are held in the ordinary course of business, suggesting a passive investment rather than an activist intent to influence control.

Negatives

• NA

Risks

• The document mentions that Lynrock Lake Master Fund LP holds warrants that are not presently exercisable due to certain 4.9% beneficial ownership limitations, which could dilute existing shareholders if exercised in the future once limitations are lifted or waived.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction. It is solely a disclosure of beneficial ownership.

Industry Context

This filing is a standard disclosure of a significant ownership stake by an institutional investor in a publicly traded company. It does not provide specific insights into broader industry trends or competitive landscape, but it indicates continued investment interest in the medical imaging or healthcare technology sector where QT Imaging Holdings, Inc. operates.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake can influence investor perception and potentially stock liquidity. The existence of unexercised warrants held by the same entity could lead to future dilution if exercised.

Key Dates

Keywords

QT Imaging Holdings Inc., Lynrock Lake LP, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Equity Stake, Investment Management