Company: LNAI
Filing Date: 2025-10-15
Form Type: DEF 14A
Source: 0001731122-25-001378
Chunk: 35

Company: Lunai Bioworks Inc.
Filing Date: 2025-10-15
Form: DEF 14A
Chunk 35
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. The
Company received a total of $950,000 in gross proceeds after taking into account the 5% original issue discount. The discount of
$50,000 will be accreted over the life of the note. The note bears an interest rate of 12% per annum and matured on December 31, 2024.
On February 24, 2025 RS Bio assigned its ownership rights to Rene Sindlev with all terms remaining unchanged. The note balance, net of
discount at June 30, 2025 was $750,000.

On March 30, 2020 (the “Issuance
Date”), the Company issued a Promissory Note in the principal amount of $5,000,000 (the “Promissory Note”) to Paseco
ApS. There have been eight amendments to the Promissory Note since the issuance date, the most recent of which is dated August 1, 2024.
The principal amount of the Promissory Note, as amended, was payable on November 1, 2024 (the “Maturity Date”). The Promissory
Note, as amended, bears interest at a fixed rate of 12% per annum. On February 24, 2025 Paseco ApS assigned its ownership rights to Rene
Sindlev with all terms remaining unchanged. The Promissory Note balance at June 30, 2025 is $831,497.

Private Placements

On August 1, 2023, RS Bio, purchased in a Private Placement
7,012 of the Company’s Units at a price per Unit equal to $71.30 for aggregate proceeds to the Company of $500,000. The Board
of Directors (excluding Mr. Sindlev) approved the participation of certain officers and directors of the Company in the Private Placement
on identical terms as the other investors of the Private Placement.

On August 1, 2023, Paseco ApS, in connection with the
Private Placement, converted $2,000,000 of its Promissory Note into 28,051 of the Company’s Units at a price per Unit equal to $71.30.
In addition, Paseco ApS purchased in the Private Placement 6,312 of the Company’s Units at a price per Unit equal to $71.30 for
aggregate proceeds to the Company of $450,000. As a result of participation in the Private Placement, Paseco