Company: MKDWW
Filing Date: 2025-03-07
Form Type: F-1/A
Source: 0001493152-25-009553
Chunk: 3

Company: MKDWELL Tech Inc.
Filing Date: 2025-03-07
Form: F-1/A
Chunk 3
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 of RMB35,000,000 (approximately USD $4.8 million) (the “Jiaxing Note”). The Issuer also agreed that it would issue an additional 150,000 of its ordinary shares to the Investor within ten (10) business days after the Investor receives and provides to the Issuer the applicable permit or approval from the People’s Republic of China authority with respect to the foreign currency exchange regulations to hold such shares, including such required approval pursuant to SAFE Circular No. 37.

| II-1 |

The Jiaxing Note shall bear interest at the rate of ten percent (10%) per annum, and the entire unpaid principal balance of the Jiaxing Note plus any accrued and unpaid interest thereon (the “Jiaxing Note Amount”) is payable two years from the issuance date. In addition, at any time beginning ninety (90) days after the issuance date of the Jiaxing Note, the Jiaxing Note Amount may be converted into ordinary shares of the Issuer at a price per share equal to the lower of (x) $5.00 or (y) the fifteen (15) trading day volume weighted average price of the ordinary shares of the issuer, provided that in no event will the conversion price be lower than $2.00. The Jiaxing Note financing closed on August 12, 2024 and the Borrower received gross proceeds of RMB35,000,000 (approximately $4.8 million). On January 14, 2025, the parties to the Jiaxing Note financing agreed to terminate the Purchase Agreement and the Jiaxing Note.

On July 24, 2024, Cetus Capital, MKD Taiwan, MKD BVI, the Company, and D. Boral Capital LLC (formerly known as EF Hutton LLC) entered into an Amended Satisfaction and Discharge Agreement, pursuant to which the Company and its subsidiaries agreed, among others, that (i) the Company shall wire $862,500 to D. Boral Capital LLC; and the Company shall cause to be transferred or issued to D. Boral Capital LLC (or its designees) 115,000 Ordinary Shares (which was agreed to have an agreed value of $10 per share, or $1,150,000 in the aggregate (the “Original Aggregate Share Value”)) to satisfy the deferred underwriting commission owed to D. Boral Capital LLC pursuant to Cetus Capital’s initial public offering, and (ii) the Company agreed to