Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 55

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 4
Chunk 55
---
) days
of the closing date, the Company will file a registration statement on Form F-1 (the “ Registration Statement”) with the SEC
to register the Streeterville’s resale of conversion shares and Pre-Delivery Shares. The Note bears interest at a rate of 7% per
annum. All outstanding principal and accrued interest on the Note will become due and payable twelve months after the purchase price
of the Note is delivered by the Investor to the Company. The Note includes an original issue discount of $136,000 along with $15,000
for the Investor’s legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection
with the purchase and sale of the Note. The Company may prepay all or a portion of the Note at any time by paying 110% of the outstanding
principal balance elected for pre-payment. Streeterville has the right at any time beginning on the earlier of (a) the date that is six
months after the purchase price of the Note is delivered by Streeterville to the Company, and (b) the effective date of the registration
statement on Form F-1 to register the Streeterville’s resale of conversion shares and Pre-Delivery Shares, until the outstanding
balance has been paid in full, at its election, to convert all or any portion of the outstanding balance into Ordinary Shares at a conversion
price equal to 80% of the lowest volume weighted average price measured during the period of ten (10) trading days prior to the conversion,
subject to the restriction of the floor price as described below. The Note contains a floor price of $0.178 for the possible future conversions
into Ordinary Shares. In the event a conversion notice is delivered where the conversion price is less than the floor price, the Company
may satisfy the conversion by payment of the applicable conversion amount multiplied by 110% in cash within two trading days, or alternatively,
the Company may reduce the floor price (subject to applicable Nasdaq rules and regulations) to a price at or below the conversion price
and deliver the applicable conversion shares. Upon the occurrence of a Trigger Event, Streeterville shall have the right to increase
the balance of the Note by 15% for Major Trigger Event and 10% for Minor Trigger Event. In addition, the Note provides that upon the
occurrence of an Event of Default, the interest rate shall accrue on the outstanding balance at the rate equal to the lesser of 18% per
annum or the maximum rate permitted