Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 62

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 5
Chunk 62
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 than conversion into shares) until the obligations under the Facility Agreement have been
discharged in full.

In July 2022, the 2020 Convertible
Loan Agreement and the accompanying warrants were further amended in order to extend the term of the underlying loan, or the July 2022
CLA Amendment. Under the July 2022 CLA Amendment, the final date for repayment was amended and extended for an additional 12 months to
July 31, 2023. In addition, as of August 1, 2022, the interest was amended to reflect a net interest rate of twelve percent (12%) per
annum, compounded on a quarterly basis, which shall be due and payable upon either repayment or conversion of the loan in accordance
with the terms of the 2020 Convertible Loan Agreement, by way of the conversion of the interest into our series C preferred shares at
a price per share equal to $10.72, or repayment of the interest, as shall be determined by the CLA Lenders. The July 2022 CLA Amendment
further provided a mandatory conversion of the Loan Amount into our series C preferred shares immediately prior, and subject to, the
closing of an IPO or SPAC Transaction (as defined in our amended and restated articles of association immediately in effect prior to
our initial public offering). Under the July 2022 CLA Amendment, the exercise period under the accompanying warrants was amended to a
period commencing on the date of the July 2022 CLA Amendment and ending on the earlier of (i) the second anniversary of the repayment
of the Loan Amount or the conversion thereof in accordance with the terms of the 2020 Convertible Loan Agreement (whichever occurs first);
and (ii) immediately prior to, and subject to the closing of, an IPO or a SPAC Transaction (as defined in our amended and restated articles
of association immediately in effect prior to our initial public offering). In connection with the July 2022 CLA Amendment, each CLA
Lender received additional warrants to purchase our series D preferred shares in an amount equal to eighteen percent (18%) of the total
outstanding amount under the 2020 Convertible Loan Agreement as of July 31, 2022, equal to an aggregate of 17,102 series D preferred
shares, exercisable at a price per share equal to $31.08. These additional warrants expired unexercised upon the closing of our initial
public