Company: RGNT
Filing Date: 2025-02-12
Form Type: DRS/A
Source: 0001213900-25-012299
Chunk: 282

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-02-12
Form: DRS/A
Chunk 282
---
 the proceeds were first allocated to the warrant liability (Refer to Note 7b) based on the fair value at the issuance date
with the remaining amount allocated to the 2021 Notes. As the conversion feature of the Notes is contingent upon a future event (IPO),
the Company concluded the conversion feature is not a beneficial conversion feature pursuant to the provisions of ASC 470-20, Debt with Conversion and Other Options.

A summary of significant unobservable
inputs (Level 3 inputs) used in measuring the fair value of the 2021 Notes are as follows:

|                  |     | December 31, 
 2023         |   |     | December 31, 
 2022         |       |   |
|:-----------------|:----|:-------------|:--|:----|:-------------|------:|:--|
| Principal amount |     | $            | - |     | $            |   835 |   |
| Discount rate    |     |              | - |     |              |  30.0 | % |
| Term (years)     |     |              | - |     |              |   0.5 |   |
| Fair value       |     |              | - |     |              | 1,018 |   |

The following table presents changes in
the fair value of the 2020 Notes and 2021 Notes:

| Balance as of December 31, 2021                        |     | $ |  6,075 |   |
| Changes in fair value                                  |     |   |    397 |   |
| Balance as of December 31, 2022                        |     | $ |  6,472 |   |
| Balance as of December 31, 2022                        |     | $ |  6,472 |   |
| Conversion of the 2021 Notes into preferred D-2 shares |     |   | (1,086 | ) |
| Changes in fair value                                  |     |   |  2,019 |   |
| Balance as of December 31, 2023                        |     | $ |  7,405 |   |

<div align='center'>F-32</div>

REGENTIS BIOMATERIALS LTD.

NOTES TO FINANCIAL STATEMENTS

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

| NOTE 7:- | WARRANT LIABILITY |

| a. | During 2015,