Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 66

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 5
Chunk 66
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 ordinary shares of the Company. The
2024 Note Purchaser Warrants are exercisable until November 8, 2028. In addition, in connection with our initial public offering in June
2024, the number of our ordinary shares purchasable under the 2024 Note Purchaser Warrants increased by 137,040. In March 2025, the 2024
Note Purchaser Warrants were replaced and we issued an amended and restated warrant to the 2024 Note Purchasers, or the A& R 2024 Note
Purchaser Warrant. The A& R Note Purchaser Warrant is exercisable for up to 863,486 of our ordinary shares at an exercise price of
$15.61 per share and may be exercised until November 8, 2028.

November 2023 Note Purchase Agreement

In November 2023, we entered
into a note purchase agreement, or the Note Purchase Agreement, with Vision Lite, as the issuer, Gauzy Ltd., Gauzy USA Inc. and Gauzy
GmbH, as the guarantors and Chutzpah Holdings Ltd., or the 2023 Note Purchaser, as purchaser, administrative agent and collateral agent.
Under the Note Purchase Agreement, the 2023 Note Purchaser extended a credit facility to Vision Lite in an aggregate principal amount
of $60.0 million, or the Commitment, that may be utilized and drawn down by way of issuance and sale of senior secured notes, or the
2023 Notes, by an issuer to the Note Purchaser. As of the date of this Annual Report, Vision Lite is the sole issuer, although Vision
Lite may designate additional issuers pursuant to the Note Purchase Agreement. As of the date of this Annual Report, $25.0 million of
the Commitment has been utilized and drawn down and which has subsequently been repaid in full. Such amounts, once repaid, cannot be
re-utilized.

The principal amount of 2023
Notes issued to the 2023 Note Purchaser under the Note Purchase Agreement bore interest of 16.0% per annum, or the Interest Rate. In
addition, a commitment fee of 5.0% per annum was payable by the 2023 Notes issuer (or issuers in the event that we designate additional
issuers pursuant to the Note Purchase Agreement) on the unutilized amount of the Commitment.

Upon repayment or prepayment
of