Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 77

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 10
Chunk 77
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 converted into the Company’s ordinary shares at $1.00 per share on March 31, 2024, and the Company issued
to Gilandi 500,000 restricted ordinary shares in full satisfaction of the Gilandi Convertible Loan.

Amendment
to Convertible Promissory Note

In
connection with the closing of the Business Combination, we issued to Maxim Group LLC (the “ Holder”) a convertible promissory
note in the aggregate amount of $2,113,125 (the “ Note”). The Note bears no interest and at the option of the Holder, may
convert into shares of the Company at the fixed conversion price of $5.00 per share. On February 29, 2024, the Company and the Holder
entered into an amendment of the Note (the “ Note Amendment”) pursuant to which the Holder has agreed not to exercise the
“ Voluntary Conversion” provision of the Note. The Note Amendment provides for, among other things, change of the maturity
date from November 17, 2023 to July 31, 2024, and that in the event that any amounts due under the Note remain outstanding on July 31,
2024, such amounts will automatically convert into the Company’s ordinary shares at the fixed conversion price of $1.50 per share.

Fee Settlement Agreement

In connection with the business combination transaction
of the Company (formerly known as 8i Acquisition Corp) in November 2022, the Company entered into an agreement dated November 16, 2022
(the “ Agreement”) with Loeb & Loeb LLP (“ Loeb”) pursuant to which Loeb was issued a promissory note in the
principal amount of $300,000 (the “ Note”) and 60,000 restricted ordinary shares (the “ Shares”) of the Company
at the assumed price of $5.00 per share. In the event that the Note is repaid in full in cash on or before its due date on November 16,
2023 (the “ Due Date”), Loeb agreed to return all Shares to the Company for cancellation. The Note remained unpaid and outstanding
on the Due Date. On April 25, 2024, the Company and Loeb entered into a Fee Settlement Agreement (the “ Settlement Agreement”)
pursuant to which among other things, (i) the Company has agreed to repay the Note in full by making cash payments to Loeb in three equal
installments of $100,000, with the