QT Imaging Holdings (OTC:QTIH) Stock Corrects After New Funding of $10.1 Million

Financing is ultimately the lifeblood of companies, and when news about fresh funding emerges, companies get more attention from investors. Hence, it would not be a surprise if the QT Imaging Holdings Inc. (OTC:QTIH) stock gets some attention today after it made such an announcement yesterday. In this feature, we will take a closer look.

$10.1 Million Funding

The medical research company announced that it had received fresh financing to the tune of $10.1 million from the Lynrock Lake Master Fund LP. The funding had been provided to the company by way of a secured note that would mature in March of 2027. In the news release, QT Imaging Holdings noted that the financing would boost its financial position and help make operations significantly more efficient. As a consequence, it would be possible to deliver the 100 scanners needed by its strategic partners over the coming years.

Further Details

The delivery of the 100 scanners would result in projected revenues to the tune of $45 million. More importantly, the fresh funding would also help QT Imaging Holdings to commercialize its new-age imaging technologies more efficiently and take it closer to fulfilling its aims.