Company: MACIW
Filing Date: 2025-10-03
Form Type: 425
Source: 0001104659-25-096654
Chunk: 2

Company: Melar Acquisition Corp. I/Cayman
Filing Date: 2025-10-03
Form: 425
Chunk 2
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.1 to this Current Report on Form 8-K and is incorporated herein by reference, and the foregoing
description of the First Amendment to Merger Agreement is qualified in its entirety by reference thereto.

Everli Note

As previously disclosed, Melar
entered into an Amended and Restated Secured Promissory Note and Pledge Agreement, dated as of August 18, 2025 and amended on September
12, 2025 (the “Everli Note”), with Everli, and a certain stockholder of Everli (the “Pledging Stockholder”) for
the aggregate principal amount of up to $1,250,000. On September 29, 2025, the parties to the Everli Note entered into Second Amendment
to Amended and Restated Secured Promissory Note and Pledge Agreement (the “Second Amendment to Everli Note”) to increase the
principal amount to up to $3,250,000.

A copy of the Second Amendment
to Everli Note is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference, and the foregoing
description of the Second Amendment to Everli Note is qualified in its entirety by reference thereto.

Sponsor Note

As previously disclosed, Melar
issued an Amended and Restated Promissory Note, dated as of August 18, 2025 and amended on September 12, 2025 (the “Sponsor Note”),
in the aggregate principal amount of up to $1,250,000 to the Sponsor. On September 29, 2025, Melar issued Second Amendment to Amended
and Restated Promissory Note (the “Second Amendment to Sponsor Note”) to the Sponsor to amend the Sponsor Note to increase
the principal amount to up to $3,250,000.

The issuance of the Second
Amendment to Sponsor Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933,
as amended.

A copy of the Second Amendment
to Sponsor Note is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference, and the foregoing
description of the Second Amendment to Sponsor Note is qualified in its entirety by reference thereto.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-balance Sheet Arrangement of a Registrant.

The
disclosure