Company: KNRX
Filing Date: 2025-03-05
Form Type: F-1/A
Source: 0001493152-25-009104
Chunk: 226

Company: KNOREX LTD.
Filing Date: 2025-03-05
Form: F-1/A
Chunk 226
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(ii) the transfer of Class B Ordinary Shares. Class A Ordinary Shares are not convertible into Class B Ordinary Shares under any circumstances.

No Class B Ordinary Share shall be transferred
within the first two years from the date of its issuance unless prior written consent from all the Directors is obtained. Upon any
transfer of Class B Ordinary Shares, such Class B Ordinary Shares shall be converted automatically to Class A Ordinary
Shares. Class B Ordinary Shares are valid for 5 years from the date of issuance (the “Class B Validity Period”),
after which the Class B Ordinary Shares shall automatically be converted into Class A Ordinary Shares. The Class B Validity
Period may be extended for periods of 3 years (the “Extension”). Any Extension must be approved by both the holders of Class
A Ordinary Shares and Class B Ordinary Shares by way of an ordinary resolution.

In March 2023, the Company completed its equity financing through the issuance of 815,050 Class A Ordinary Shares for approximately US$3.7 million and converted approximately US$8.0 million into 2,553,700 Class A Ordinary Shares from its convertible notes.

In November 2023, the Company completed additional equity financing through the issuance of 999,025 Class A Ordinary Shares for approximately US$4.5 million. Further, a total of 317,250 warrants were exercised to subscribe for the Company’s shares for a total consideration of approximately US$0.5 million.

On February 26, 2024, the Company amended its authorized share capital from US$50,000 divided into 5,000,000 ordinary shares of par value US$0.01 each, to US$50,000 divided into 100,000,000 ordinary shares of par value US$0.0005 each of a single class. On September 25, 2024, the authorized share capital of our Company was further amended to US$50,000 divided into 100,000,000 ordinary shares of nominal or par value US$0.0005 each, comprising 90,000,000 Class A Ordinary Shares of par value US$0.0005 each and 10,000,000 Class B Ordinary Shares of par value US$0.0005 each. On September 25, 2024, the Company re-designated the 20 ordinary shares into 20 Class B Ordinary Shares at par value US$0.0005 each.

On September 30, 2024, the Company entered into restructuring agreement with