Company: MKDWW
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001641172-25-002610
Chunk: 140

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: F-1
Chunk 140
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100 with an annual interest rate at 10% to MKD Jiaxing. During the year ended December 31, 2024, MKD Jiaxing entered into an interest-free loan arrangement with Ming-Chao Huang providing a loan in the amount of US$16,426 to MKD Jiaxing. On March 7, 2025, Ming-Chia Huang transferred US$550,000 out of his US$900,000 debt claim against the Company to his spouse, Ms. Ya-Hui Wu. Subsequently, On March 19, 2025, loans amounting to $900,000 from Ming-Chia Huang were converted into equity with the Company entering into debt conversion agreements with Ming-Chia Huang and Ms. Ya-Hui Wu to convert the loans totalling amounting to $900,000 into equity, the spouse of Ming-Chia Huang. According to debt conversion agreements, the amount of $350,000 will be converted into 3,500,000 new ordinary shares of the Company for Ming-Chia Huang, and the amount of $550,000 will be converted into 5,500,000 new ordinary shares of the Company for Ms. Ya-Hui Wu.

On February 1, 2024, MKD BVI lent US$300,000 to Cetus Sponsor LLC with an annual interest of 6.5%. The loan is used to pay the application fee for the extension of business combination between the Company and Cetus Capital and shall be repaid on the earlier of i) the date on which the Cetus Capital consummates an initial business combination with a target business, and ii) May 2, 2024. As of December 31, 2024, the amount of loans from MKD BVI to Cetus Sponsor LLC was $932,640, including interests of $57,640. 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 by MKD BVI to 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. For the interests of $57,640, the Company is currently negotiating with Awinner Limited and expected