Company: RGNT
Filing Date: 2025-03-11
Form Type: F-1
Source: 0001213900-25-022350
Chunk: 279

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-03-11
Form: F-1
Chunk 279
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 2020 Notes shall be automatically be converted into such number of shares of the most senior securities issued in such qualified   
 round, based on a price per share equal to 80% of the lowest price per share actually paid by any investor in the qualified round. |

| 2. | Automatic conversion upon                                                                                                   
 occurrence of a merger and acquisition transaction – upon the closing of merger and acquisition transaction (as defined in  
 the 2020 CLAs), the 2020 Notes shall be automatically converted into Company’s most senior securities, based on a price per 
 share equal to 80% of the lowest price per attributed to such securities in the merger and acquisition transaction.         |

In October 2021, the Company entered
into an agreement with the 2020 CLA investors to extend the due dates of the 2020 Notes until June 2022 (which was later extended to
June 2023 following an agreement between the Company and the 2020 CLA investors dated December 2022). In October 2021, the Company and
2020 CLA investors reached an agreement according to which, in connection with the raising of the 2021 Notes, the 2020 Notes shall be
converted into ordinary shares of the Company upon the occurrence of an exit event (including an IPO or merger,) of the Company based
on a price per share equal to 80% at a pre money valuation of $5,150.

On January 3, 2024, the Company extended
the due date until April 30, 2024 and, subsequently on April 26, 2024 further extended the due date until May 27, 2024. In October 2024,
the Company signed an addendum to the 2020 CLA agreement (see also Note 14).

The Company estimates the fair value
of the 2020 Notes using the Probability-Weighted Expected Return Method (PWERM). For years ended December 31, 2023, and 2022, the Company
recorded an expense of $1,951 and $205 for the revaluation of such 2020 Notes, within financial expense, net in the statements of comprehensive
loss.

<div align='center'>F-30</div>

REGENTIS BIOMATERIALS LTD.

NOTES TO FINANCIAL STATEMENTS

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

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

A summary