Schedule 13G: Alta Partners Reports 1,698,704-Share Position in QTI
Rhea-AI Filing Summary
Alta Partners LLC reported beneficial ownership of 1,698,704 shares of QT Imaging Holdings, Inc. common stock, representing 5.58% of the class. The filing states these shares are "shares issuable upon exercise of warrants," and Alta Partners reports sole voting and dispositive power over all 1,698,704 shares. The statement affirms 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. The filing is submitted on Schedule 13G and signed by Steven Cohen as Managing Member of Alta Partners LLC.
Positive
- Clear disclosure of ownership: Alta Partners LLC reports the exact number of shares (1,698,704) and percentage (5.58%).
- Sole voting and dispositive power: The filer asserts full control over voting and disposition of the reported shares.
- Held in ordinary course: Certification states the position is held in the ordinary course and not to influence control, consistent with Schedule 13G.
Negative
- None.
Insights
TL;DR: Alta Partners holds a disclosed 5.58% position (1,698,704 shares, exercisable warrants), a material passive stake under Schedule 13G.
The filing shows a single reporting entity, Alta Partners LLC, with sole voting and dispositive power over 1,698,704 shares, equal to 5.58% of QTI's common stock. The filing explicitly states the shares are issuable upon exercise of warrants, which is critical for properly classifying the economic exposure. Alta Partners certifies the position is held in the ordinary course and not intended to influence control, consistent with Schedule 13G treatment. For investors, a >5% passive stake is material because it signals a substantial investor interest without active control intentions.
TL;DR: A >5% disclosure under Schedule 13G indicates significant ownership while asserting no intent to change control; relevant for governance monitoring.
From a governance perspective, the filing identifies Alta Partners LLC as the sole beneficial owner with sole voting/dispositive authority over the position. The explicit certification that the stake is not held to influence control is required for Schedule 13G status and reduces immediate takeover signaling. The fact the shares are "issuable upon exercise of warrants" should be noted in governance reviews because warrant exercises could alter timing of voting power and dilution profiles, although the filing contains no further terms about those warrants.