Company: CENN
Filing Date: 2025-05-21
Form Type: 8-K
Source: 0001140361-25-020044
Chunk: 0

Company: Cenntro Inc.
Filing Date: 2025-05-21
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01. Entry into a Material Definitive Agreement

First Amendment to Senior Secured Promissory Note

On May 16, 2025, Cenntro Inc. (the “ Company”) and About Investment Pte. Ltd. a Singapore exempt private company limited by shares (“ Holder”)
entered into an amendment (the “ Note Amendment”) to a senior secured promissory note (the “ Note”) originally issued by the Company on July 20, 2022, in an original principal amount of $52,237,500.

Pursuant to the Note Amendment, the parties have agreed to amend the floor price of any conversions of the Note to $0.202 per share equal to an
eighty percent (80%) discount of the closing bid price of the Company’s common stock during the trading day immediately preceding the Note Amendment, which will be adjusted accordingly in the event of a share split or combination. The terms of
the Amended Note continue to grant the Holder the right to convert from time to time at its election, all or any portion of the outstanding balance of the Note into shares common stock of the Company at the conversion price, which is equal to the
lesser of (i) the fixed conversion price or (ii) eighty-five percent (85%) of the ten (10) day VWAP during the ten (10) consecutive trading days ending on the trading day that is immediately prior to the applicable conversion date, and in each
case subject to adjustment set forth in the Note.

The Note continues to contains an ownership limitation, pursuant to which the Company shall not effect any issuance of shares of common stock to
the extent that such issuance would cause the Holder, together with its affiliates, to beneficially own a number of common shares exceeding 9.99% of the number of shares of common stock outstanding on such date, including shares of common stock
issuable upon such conversion under the Note.

Item
5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.