Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 61

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 5
Chunk 61
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008 series C preferred shares, for an amount of $230,000 including accrued interest. As a result
of the 2020 Convertible Loan Agreement having converted into series C preferred shares in January 2021, such CLA Lender’s
warrants expired according to their terms.

During March 2020, we entered
into an additional convertible loan agreement, or the Subsequent 2020 Convertible Loan Agreement, with a lender (pursuant to which the
lender agreed to loan us a sum of $3 million). The Subsequent 2020 Convertible Loan Agreement was issued with warrants to purchase preferred
C shares and bore 8% annual interest with a maturity date of March 25, 2022. In September 2020, as a result of a Qualified Financing,
the lender converted the Subsequent Loan Amount into 217,025 series C preferred shares, out of which 205,539 series C preferred shares
were issued in September 2020 and 11,487 Series C preferred shares, were issued in April 2021. As a result of the Subsequent 2020 Convertible
Loan Agreement having converted into series C preferred shares in September 2020, its warrants expired according to their terms.

In October 2021, we entered
into an amendment to the 2020 Convertible Loan Agreements whereby the two remaining CLA Lenders under such 2020 Convertible Loan Agreements
agreed to amend the 2020 Convertible Loan Agreements such that: (i) the maturity date was extended to July 31, 2022, (ii) the
interest on the loan should be accrued and be compounded on a quarterly basis commencing August 1, 2021, (iii) repayment of
the loan shall only occur upon 60 days’ prior written notice by the Company to the CLA Lenders, (iv) to the extent we
are unable to repay the loan by the amended maturity date, the CLA Lenders shall agree to a further extension, and (v) the amendment
shall take effect from July 15, 2021.

In January 2022, the two
remaining CLA Lenders agreed with the lenders under the Facility Agreement that the rights of the CLA Lenders are subordinated in favor
of the lenders under the Facility Agreement, including not having any rights to receive or to demand any amounts payable to them under
the 2020 Convertible Loan Agreements (other