Company: RGNT
Filing Date: 2025-03-11
Form Type: F-1
Source: 0001213900-25-022350
Chunk: 281

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-03-11
Form: F-1
Chunk 281
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 upon maturity. Interest expenses amounted to $8 and $33 in 2023 and 2022, respectively,
and were included financial expenses, net in the Company’s statements of comprehensive loss.

In any event that the Company shall raise
a loan after September 2021 on terms which are more advantageous to the 2021 CLA investors (the “Subsequent Loan”), then,
the 2021 CLA investors shall have the right to convert the terms and conditions in relation to the 2021 Notes to the terms of the Subsequent
Loan.

Unless previously converted or repaid,
upon consummation of an IPO, the 2021 Notes shall be automatically converted into such number of securities (ordinary shares and warrants,
as may be issued upon the IPO) issued in such IPO, based on a price per share equal to 80.0% of the price per security paid under the
IPO.

In the event that the 2021 Notes were
not converted or repaid prior to the Maturity Date, the 2021 Notes shall be automatically converted on the Maturity Date, into the Company’s
most senior class of securities then issued and outstanding, based on a price per share reflecting a pre money valuation of the Company
(determined on a fully diluted basis of the date of the conversion) of $30,000.

<div align='center'>F-31</div>

REGENTIS BIOMATERIALS LTD.

NOTES TO FINANCIAL STATEMENTS

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

| NOTE 6:- | CONVERTIBLE NOTES (Cont.) |

On March 11, 2023, the 2021 Notes reached
their Maturity Date. Since no repayment occurred, the 2021 Notes were converted at that date into 35,354 preferred D-2 shares. In addition,
the number of 2021 Warrants and their exercise price was determined (refer to Note 7b).

The Company accounts for the 2021 Notes
as follows: the proceeds were first allocated to the warrant liability (Refer to Note 7b) based on the fair value at the issuance date
with the remaining amount allocated to the 2021 Notes. As the conversion feature of the Notes is contingent upon a future event (IPO),
the Company concluded the conversion feature is not a beneficial conversion feature pursuant to the provisions of ASC 470-20, Debt with Conversion and Other Options.

A summary of significant unobservable
inputs (Level