Company: RGNT
Filing Date: 2025-03-11
Form Type: F-1
Source: 0001213900-25-022350
Chunk: 294

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-03-11
Form: F-1
Chunk 294
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 dollars in thousands, except share and per share data

| NOTE 10:- | TEMPORARY EQUITY (Cont.) |

Notwithstanding the foregoing, if the
aggregate distribution pursuant to the above, together with their pro rata participation, would not result in the holders of convertible
preferred D shares receiving an amount per share of at 2 times the applicable original issue price for each convertible preferred D share,
then each holder of convertible preferred D shares shall be entitled to receive in respect of each share held by such holder of convertible
preferred D share, interest at a rate of 15% per annum of the applicable original issue price of such convertible preferred D share,
compounded annually from the date of the actual payment thereto to the date of distribution, until such time that each holder of convertible
preferred D shares receives an aggregate amount of 2 times the respective original issue price for each convertible preferred D share.

In the event of a “Deemed Liquidation”,
which is a sale of all or substantially all of the assets of the Company (including, the grant of an exclusive license to all or substantially
all of the intellectual property rights of the Company), in a single transaction or a series of related transactions, the Company and
its shareholders shall take such actions as are required to effect a distribution in accordance with Company’s AOA, unless each
of the holders of convertible preferred shares vote collectively against effecting such distribution.

In the event of an IPO, the conversion
price of the preferred shares shall be adjusted to reflect a deemed liquidation distribution to the preferred shares as provided in Company’s
AOA, such that the number of ordinary shares issuable upon conversion thereof shall reflect that number of ordinary shares that would
have been distributed with respect the preferred shares in a distribution made according to Company’s AOA at the pre-money valuation
of the IPO.

Although the convertible preferred shares
are not redeemable, in the event of certain “Deemed Liquidation Event” that are not solely within the Company’s control
(including merger, acquisition, or sale of all or substantially all of the Company’s assets), the holders of the convertible preferred
shares would be entitled to preference amounts paid before distribution to other shareholders (as explained in the previous paragraph)
and, hence, effectively redeeming the preference amount. The convertible preferred shares are classified outside of shareholders’
deficit as a result of these in-substance contingent redemption rights.

As of December 31, 2023, the Company
did not adjust the