Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 288

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 288
---
 an exercise price per share of $0.01, as well as warrants to purchase
up to 1,410,437 shares of our Series A common stock at an exercise price per share equal to the then-current fair market value on the
date each such warrant is granted. The warrants will be issued on a rolling, pro rata basis that corresponds with the amount of funding
drawn, if any, from the facility. Sabeera 2’s obligation to provide funding under the facility will end upon the earlier to occur
of (i) the consummation of the Reorganization and (ii) the date which is ten (10) business days prior to the maturity date of the Convertible
Note. There are no fees or other charges payable to Sabeera 1 in order to maintain the investment commitment. Adel Ghazzawi, a director
of the Company, is the manager of Sabeera 2.

Proxima 2023 Convertible Note

On March 22, 2023 we issued to Proxima Media LLC
a 7.5% PIK subordinated unsecured promissory note in the principal amount of $0.2 million in respect of a loan in the same amount. The
note matures on the 180-day anniversary of its issuance date. At any time while the note remains outstanding, the holder is entitled to
convert all or any portion of the outstanding balance into our Class B common units. The Note automatically converts into Class B common
units in the event of a subsequent equity financing, direct listing or change of control. Proxima Media LLC is a beneficial owner of more
than 5% of our equity securities. Ryan Kavanaugh, a former director, is a beneficial owner of more than 5% of the equity securities of
Proxima Media LLC.

Share Loan Holding Vehicle Loan

On June 27, 2023 we entered into a Business Loan
and Security Agreement pursuant to which we borrowed $2.0 million from a lender and received gross proceeds in the amount of $1.9 million.
The loan provides for repayment in 24 weekly installments and carries $0.9 million in total interest expense provided all payments are
timely made. The loan is secured by a limited guaranty and pledge of securities given in favor of the lender by Share Loan Holding Vehicle
LLC, an entity controlled by our former director Ryan Kavanaugh who, through Proxima Media, Share Loan Holding Vehicle LLC and various
trusts, is