Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 71

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 5
Chunk 71
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aid on September 30, 2023, or the Postponed Amounts, with the interest payments continuing
to be repaid in accordance with the original payment schedule on the original repayment date pursuant to the Facility Agreement. The
Postponed Amounts bear an additional interest at a rate of 2% per annum until repayment, which were due on September 30, 2023. Pursuant
to the Waiver and Amendment Agreement, commencing July 1, 2023, the interest rate of the Facility Loans was increased at a rate of 1%
per annum. Under the Waiver and Amendment Agreement, the credit funds were granted a right, upon full repayment of the Facility Loans,
to demand payment of up to 50% of the “phantom warrant.” Under the Waiver and Amendment Agreement, were undertook to deliver
to the credit funds, no later than July 31, 2023, commitments of investors to invest $10.0 million in the Company no later than September
30, 2023.

On October 5, 2023, we entered
into another waiver and amendment agreement with respect to the Facility Agreement, under which it was agreed that our payment obligations
under the Facility Agreement due on or prior to September 30, 2023 may be postponed until November 2, 2023, in consideration for payment
of a waiver fee in a total amount of $1.5 million. We paid the waiver fee on November 11, 2023 along with the amount that was initially
due on November 2, 2023.

On January 29, 2024, the
parties to the Facility Agreement entered into a payoff and full satisfaction of secured obligations letter, or the Payoff Letter. Under
the terms of the Payoff Letter, all amounts payable to the credit funds have been repaid to the credit funds, other than 50% of the “phantom
warrant,” which remains payable pursuant to the provisions of the Facility Agreement. Upon the consummation of our initial public
offering in June 2024, the parties to the Facility Agreement, were entitled to receive, at their election, either $1.5 million or 88,253
ordinary shares, based upon an initial public offering price of $17.00 per share. In July 2024, the parties to the Facility Agreement
elected to receive $1.5 million, which, when paid in full, will satisfy