Company: MKDWW
Filing Date: 2025-02-21
Form Type: F-1/A
Source: 0001493152-25-007784
Chunk: 147

Company: MKDWELL Tech Inc.
Filing Date: 2025-02-21
Form: F-1/A
Chunk 147
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, 2024 (“the Closing Date”), working capital loans from related parties were $274,737, which consisted of a) interest-free loan of $235,737 provided by Awinner Limited, which was 100% owned by Chung-Yi Sun, Chief Executive Officer of the Company; and b) interest-free loan of $39,000 provided by Cetus Sponsor LLC, which was 100% owned by Chung-Yi Sun. These loans were due on demand.

Following the approval byCetus Capital’s Board of Directors of an extension of an additional three (3) months from November 2, 2023
to February 2, 2024 for the completion of a business combination (the “Extension”), on October 31, 2023, the Sponsor deposited
an aggregate of $575,000 into the Cetus Capital’s trust account. This deposit was made in respect of a loan to the Cetus Capital
(the “Extension Loan”), which Extension Loan is evidenced by an unsecured promissory note issued by Cetus Capital to the
Sponsor (the “Extension Note”).

On December 14, 2023, Cetus Capital, the Sponsor, the members of Cetus Capital’s Board of Directors (the “Insiders”) and EF Hutton LLC executed and delivered a Letter of Consent and Waiver (the “Consent and Waiver”), agreeing that notwithstanding anything to the contrary in the Insider Letter among the Insiders,Cetus Capital, the Sponsor and EF Hutton LLC, the Sponsor may
pledge as security and/or transfer any shares of the common stock of Cetus Capital held by the Sponsor in connection with the obtaining
of loans towards payment of the fees for the extension of the business combination deadline of the Company, including but not limited
to those shares of the common stock of Cetus Capital pledged in connection with the MKD Loan.

On January 31, 2024, Cetus Capital held the Extension Meeting, at which the stockholders of Cetus Capital approved an amendment (the “Extension Amendment”) to Cetus Capital’s amended and restated certificate of incorporation to extend the date by which Cetus Capital must consummate its initial business combination from February 3, 2024 up to six (6) one-month extensions to August 3, 2024, provided that an additional amount equal to the lesser of $0.03 per outstanding public share and $50,000 for each month extended is deposited into the trust account, or such earlier date as