Company: MKDWW
Filing Date: 2025-04-15
Form Type: 424B3
Source: 0001641172-25-004780
Chunk: 140

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-15
Form: 424B3
Chunk 140
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 application fee for the extension of business combination between the Company and Cetus Capital and shall be repaid on the earlier of i) the date on which the Cetus Capital consummates an initial business combination with a target business, and ii) May 2, 2024. As of December 31, 2024, the amount of loans from MKD BVI to Cetus Sponsor LLC was $932,640, including interests of $57,640. On March 13, 2025, Cetus Sponsor LLC, Awinner Limited, and MKD BVI entered into a debt transfer agreement, pursuant to which the debt of US$875,000 owed by MKD BVI to Cetus Sponsor LLC was transferred to Awinner Limited. Meanwhile, on March 13, 2025, Awinner Limited issued an interest-free promissory note with an amount of US$875,000 to MKD BVI, with the maturity date being December 31, 2026. For the interests of $57,640, the Company is currently negotiating with Awinner Limited and expected to receive the interests before December 31, 2025.

In order to finance transaction costs in connection with the Business Combination, Cetus Sponsor LLC and Awinner Limited provided the interest free loans to the Company. As of December 31, 2024, the amount of loans from Cetus Sponsor LLC and Awinner Limited were US$914,000 and US$235,737, respectively. On March 13, 2025, Cetus Sponsor LLC, Awinner Limited, and MKD entered into a debt transfer agreement, pursuant to which the debt of US$875,000 owed by Cetus Sponsor LLC was transferred to Awinner Limited. On March 19, 2025, Awinner Limited and MKD entered into a debt conversion agreement to convert the loans amounting to US$1,110,000 into 11,110,000 new ordinary shares of the Company. Regarding the remaining loan of US$39,000 from Cetus Sponsor LLC and US$737 from Awinner Limited, the Company will repay in cash. The specific repayment date is currently being negotiated with Cetus Sponsor LLC and Awinner Limited.

On March 19, 2025, the debt of $473,100 related to equipment purchase payable were transferred to Ming-Chia Huang and subsequently converted into equity with the Company entering into debt conversion agreement with Ming-Chia Huang. According to debt conversion agreements, the debt will be converted