Company: RGNT
Filing Date: 2025-02-12
Form Type: DRS/A
Source: 0001213900-25-012299
Chunk: 291

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-02-12
Form: DRS/A
Chunk 291
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 obtaining approval of the FDA and the European Medicines Evaluation Agency, or EMEA, and other quality and clinical    
 milestones, none of which has occurred. Notwithstanding, CSL claimed to have obtained a valid German court order in its favor and to endeavor 
 to seek for its enforcement in Israel. Company’s position is that CSL’s claim for the payment of the said unshipped minimum purchase          
 commitments lacks any ground under the terms of the Framework Supply Agreement and moreover, that the Company was never served with German    
 judicial documents (e.g., statement of claim) of CSL with translations in Hebrew, English or Arabic, as required under the applicable         
 German and international rules of proceeding. Consequently, based on advice of a German legal counsel, the Company are in the opinion         
 that the legal proceeding initiated by CSL suffered a fundamental and material procedural error and that no enforceable German judgement      
 could derive thereto. In 2024, the Company has initiated a proceeding in Germany to annul said German court’s purported ruling.               |

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REGENTIS BIOMATERIALS LTD.

NOTES TO FINANCIAL STATEMENTS

U.S. dollars in thousands, except share and per share data

| NOTE 9:- | COMMITMENTS AND CONTINGENCIES (Cont.) |

The Company’s product has yet to
be approved by FDA and is still in clinical trials and in any event, is not using CSL’s fibrinogen.

From time to time, the Company has been
and may be in the future subject to other legal proceedings, claims, investigations, and government inquiries (collectively, “Legal
Proceedings”) in the ordinary course of business. There are no currently pending legal proceedings that the Company believes will
have a material adverse impact on the business or financial statements.

| NOTE 10:- | TEMPORARY EQUITY |

The preferred shares confer upon their
holders all rights accruing to holders of ordinary shares (as detailed below in this Note 10) in the Company, and, in addition, the rights,
preferences and privileges granted to the preferred shares as follows:

| A. | Dividends and Other Distributions |

The holders of all convertible preferred
shares shall be entitled to receive, when and if declared by the board of directors, a noncumulative dividend. Such dividends will be
distributed to the holders of the ordinary shares and the preferred shares on a pro-rata basis. No dividends have been declared to date.

Other distributions described in Company’s