Company: MKDWW
Filing Date: 2025-04-15
Form Type: 424B3
Source: 0001641172-25-004780
Chunk: 208

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-15
Form: 424B3
Chunk 208
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the “Memorandum and Articles”) to increase the authorized share capital to an unlimited amount. The Company estimates that amending the Memorandum and Articles has no financial effect as the Company has not issued new shares as of the date of issuance of the consolidated financial statements.

Entry into Debt Transfer Agreements

On March
13, 2025, Cetus Sponsor LLC, AWinner Limited, and MKD BVI entered into a debt transfer agreement, pursuant to which the debt of US$875,000
owed to MKD BVI by Cetus Sponsor LLC was transferred to AWinner Limited. Meanwhile, on March 13, 2025, AWinner Limited
issued an interest-free promissory note with an amount of US$875,000
to MKD BVI, with the maturity date being December 31, 2026.

On March
13, 2025, Cetus Sponsor LLC, AWinner Limited, and MKD entered into a debt transfer agreement, pursuant to which Cetus Sponsor LLC transferred
its claim of US$875,000
against the Company to AWinner Limited.

The
Company estimates that the execution of debt transfer agreements has no financial impact on the Company’s consolidated financial
statements.

Entry into Debt Conversion Agreements

On March 19, 2025, the Company, entered into three separate debt conversion agreements (the “Debt Conversion Agreements”) with three creditors of the Company, being Mr. Ming-Chia Huang, a director and the chief executive officer of the Company, Ms. Ya-Hui Wu, the spouse of Mr. Huang, and AWinner Limited, which is controlled by Mr. Chung-Yi Sun, a director of the Company, to convert such debts owed into equity of the Company. Among these, (i) an amount of $823,100owed to Mr. Ming-Chia Huang will be converted into 8,231,000 newordinary shares of the Company, which will be redesignated into 8,231,000new Class A preferred shares subject to approval by shareholders of the Company by an ordinary resolution; (ii) an amount of $550,000owed to Ms. Ya-Hui Wu will be converted into 5,500,000 new ordinary shares of the Company; and (iii) an amount of $1,110,000owed to AWinner Limited will be converted into 11,100,000new ordinary shares of the Company. The execution of the Debt Conversion Agreements will decrease the Company’s liabilities and