Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 152

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 152
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 is engaged in the aeronautics, automotive,
railway and marine industries.

  Initial Public Offering and Private Placement:  

On June 7, 2024, the Company closed its
an initial public offering (IPO), in which it issued and sold4,411,765shares of ordinary shares at an IPO price $17.00per share, resulting
in net proceeds of $68.25million after deducting $6.75million of underwriting discounts and commissions.

The underwriters were granted an option,
exercisable for a period of 30 days from the pricing date of the IPO, to purchase up to661,765additional ordinary shares. This option
expired unexercised in July 2024. In connection with the IPO:

  all of the shares of convertible preferred shares outstanding automatically converted into an aggregate of 4,693,318 shares of ordinary shares;  

  57,678 warrants were converted into an aggregate of 24,630 ordinary shares by cashless exercise; 4,127,467 warrants that became convertible to ordinary shares (instead of preferred shares) were...  

  outstanding convertible loans and accrued interest totaling to $ 69.57 million converted into 4,092,330 ordinary  

  under the 2024 Note Purchase Agreement, the 2024 Note Purchasers exercised their commitment to purchase 882,353 ordinary shares and 137,040 warrants to ordinary shares in an amount of $ 15.0 mi...  

Offering costs consist primarily of accounting,
legal, and other fees related to the IPO. Prior to the IPO, no deferred offering costs were capitalized in the consolidated balance sheets.
A total of $1.9million of offering costs along with underwriters’ fees totaling to $6.75million, were recognized in shareholders’
equity as a reduction of the IPO proceeds in the consolidated balance sheets.

F-9

GAUZY LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(U. S. dollars in thousands, except share and per
share amounts)

NOTE 1 - NATURE OF
OPERATIONS: (continued):

  As of December 31, 2024, the Company had an accumulated deficit of $ 225,012. During the year ended December                                 

  In October 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted                                         
  a series of attacks on civilian and military targets. Following the attack, Israel’s security cabinet declared