Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 165

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 7
Chunk 165
---
 agreement on the form of the Amended and Restated Subscription
Agreement, pursuant to which (i) the subscribers subscribed for the Convertible Notes in an aggregate principal amount of $2,500,000 (the
“ October 2024 Subscription”) and (ii) the Company (A) issued to the subscribers an aggregate of 151,515 Subscriber Shares
and (B) reserved for issuance to Callaway an aggregate of 303,030 Commitment Shares. The October 2024 Subscription was a partial satisfaction
of the Second Amended Commitment Amount and was deemed a partial exercise of the Callaway Option.

On November 15, 2024, the Company, Callaway, as
a commitment party, and the subscribers further entered into a subscription agreement on the form of the Amended and Restated Subscription
Agreement, pursuant to which (i) the subscribers subscribed for the Convertible Notes in an aggregate principal amount of $3,000,000 (the
“ November 2024 Subscription”) and (ii) the Company (A) issued to the subscribers an aggregate of 181,819 Subscriber Shares
and (B) reserved for issuance to Callaway an aggregate of 363,636 Commitment Shares. The November 2024 Subscription was a partial satisfaction
of the Second Amended Commitment Amount and deemed as a partial exercise of the Callaway Option.

On December 2, 2024, the Company and Farragut
entered in to a subscription agreement on the form of the Amended and Restated Subscription Agreement (the “ Farragut PIK Subscription
Agreement”), pursuant to which Farragut agreed to subscribe for the Convertible Notes in an aggregate principal amount of $3,855,014
on each applicable subscription closing date as set forth therein. On December 26, 2024, the Company entered in to an amendment to the
Farragut PIK Subscription Agreement, pursuant to which (i) Farragut agreed to subscribe for the Convertible Notes in an aggregate principal
amount of $3,855,016 on each applicable subscription closing date as set forth therein (the “ Farragut PIK Subscription”) and
(ii) the Company issued to Farragut 233,638 Subscriber Shares. The Farragut PIK Subscription, if successfully closed on each applicable
subscription closing date, will be a partial satisfaction of the Second Amended Commitment Amount but will not be deemed as a partial
exercise of the Callaway Option.