Company: RGNT
Filing Date: 2025-02-12
Form Type: DRS/A
Source: 0001213900-25-012299
Chunk: 279

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-02-12
Form: DRS/A
Chunk 279
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 bears no interest and,
unless previously converted (see below), shall become fully due and payable in cash following 1 year from each 2020 CLA issuance date.

The 2020 Notes may be converted into
most senior securities of the Company or repaid as follows:

| 1. | Automatic conversion upon occurrence of a qualified round – upon the closing of a qualified round (transaction or series of related transactions in which shares of the Company having substantially similar rights are issued for an aggregate investment amount of at least $ 3,000), the 2020 Notes shall be automatically be converted into such number of shares of the most senior securities issued in such qualified round, based on a price per share equal to 80% of the lowest price per share actually paid by any investor in the qualified round. |

| 2. | Automatic conversion upon occurrence of a merger and acquisition transaction – upon the closing of merger and acquisition transaction (as defined in the 2020 CLAs), the 2020 Notes shall be automatically converted into Company’s most senior securities, based on a price per share equal to 80% of the lowest price per attributed to such securities in the merger and acquisition transaction. |

In October 2021, the Company entered
into an agreement with the 2020 CLA investors to extend the due dates of the 2020 Notes until June 2022 (which was later extended to June
2023 following an agreement between the Company and the 2020 CLA investors dated December 2022). In October 2021, the Company and 2020
CLA investors reached an agreement according to which, in connection with the raising of the 2021 Notes, the 2020 Notes shall be converted
into ordinary shares of the Company upon the occurrence of an exit event (including an IPO or merger,) of the Company based on a price
per share equal to 80% at a pre money valuation of $5,150.

On January 3, 2024, the Company extended
the due date until April 30, 2024 and, subsequently on April 26, 2024 further extended the due date until May 27, 2024. In October 2024,
the Company signed an addendum to the 2020 CLA agreement (see also Note 14).

The Company estimates the fair value
of the 2020 Notes using the Probability-Weighted Expected Return Method (PWERM). For years ended December 31, 2023,