Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 176

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 176
---
 This, based on the following assumptions:

                            Aeronautics              Architecture              Automotive              Safety tech  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Discount rate                              19                        19                      19                   
  Terminal growth rate                        3                         3                       3                   

If business conditions or expectations
were to change materially, it may be necessary to record impairment charges to the Company’s reporting units in the future.

F-28

GAUZY LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(U. S. dollars in thousands, except share and per
share amounts)

NOTE 9-NONCONVERTIBLE LOANS:

  During 2019, the Company entered into a loan agreement with an Israeli bank in the amount of $ 1,000 (the                   
  “2019 Loan”) which was repaid in full by January 2022. In addition, in the case of an IPO or certain liquidity events, the  
  bank was entitled to receive a bonus of $ 200 (the “ Bonus”). Following the IPO, the bonus was paid on August 15, 2024.     
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

  In 2020, the Company also entered into a bank loan agreement under an Israeli government established state-guaranteed                       
  loan for the financial support of businesses following the outbreak of the COVID pandemic. The loan, in the amount of $ 592 (approximately  
  NIS 2.1 million), has a term of 5 years. The loan bears annual interest of the prime rate plus 1.5% that is paid by the Company beginning   
  from the second year of the loan. The total interest expenses related to COVID Loan amounted to $ 15 and $ 22 for the years ended 2024 and  
  2023, respectively. As of December 31, 2024 the balance of the loan was $ 105.                                                              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

As of December 31, 2024 and 2023, the
Company has a lien against its bank deposit in the amount of $30, in respect of the aforementioned bank loan granted under the Israeli
government as support for the COVID pandemic.

  On January 19, 2022, the Company entered into a facility agreement