Company: RGNT
Filing Date: 2025-01-24
Form Type: DRS
Source: 0001213900-25-006245
Chunk: 278

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-01-24
Form: DRS
Chunk 278
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 |     | $ |        7,405 |   |     | $ |        5,454 |   |

The Company has performed a sensitivity
analysis of the 2020 Notes which are classified as level 3 financial instruments in the fair value hierarchy. The Company recalculated
the fair value of the 2020 Notes by applying a +/- 5.0% changes to the discount rate used in PWERM. As of December 31, 2023, a 5.0% decrease
in discount rate would increase the fair value of the 2020 Notes to $7,479; a 5.0% increase in discount rate would decrease the fair value
of the 2020 Notes to $7,334.

| b. | In September 2021, the Company entered into various Convertible Loan Agreements (the “2021 CLA”) for a total consideration of $835 thousand (the “2021 Notes”). Unless previously converted or repaid, the 2021 Notes shall mature and become payable 18 months following September 2021 (the “Maturity Date”). |

The 2021 Notes bear no interest until
June 30, 2022. After June 30, 2022 and until the earlier of (a) conversion of the 2021 Notes, or (b) the Maturity Date, the 2021 Notes
shall bear annual interest at a rate of 4.0%, with such interest added to the principal amount of the 2021 Notes and either converted
into securities of the Company upon an IPO or 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.