Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 167

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 7
Chunk 167
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 in an aggregate principal amount of $352,694
on each applicable subscription closing date as set forth therein and (ii) the Company agreed to reserve for issuance to Callaway an aggregate
of 1,206,741 Commitment Shares. On December 26, 2024, the Company entered in to an amendment to the Callaway PIK Subscription Agreement,
pursuant to which (i) Callaway agreed to subscribe for the Convertible Notes in an aggregate principal amount of $352,694 on each applicable
subscription closing date as set forth therein (the “ Callaway PIK Subscription”) and (ii) the Company issued to Callaway and
its assignees an aggregate of 2,582,172 Ordinary Shares, consisting of 2,560,797 Commitment Shares and 21,375 Subscriber Shares. The Callaway
PIK Subscription, if successfully closed on each applicable subscription closing date, will be a partial satisfaction of the Second Amended
Commitment Amount but will not be deemed as a partial exercise of the Callaway Option.

On December 26, 2024, the Company, Callaway, as
a commitment party, and the subscribers party thereto further entered into a subscription agreement on the form of the Amended and Restated Subscription
Agreement, pursuant to which (i) the subscribers subscribed for the Convertible Notes in an aggregate principal amount of $3,000,000 (the
“ December 2024 Subscription”) and (ii) the Company (A) issued to the subscribers an aggregate of 181,819 Subscriber Shares
and (B) issued to Callaway an aggregate of 363,636 Commitment Shares. The December 2024 Subscription was a partial satisfaction of the
Second Amended Commitment Amount and deemed as a partial exercise of the Callaway Option.

As of December 31, 2024, the remaining amount
of the Callaway Option is $22,000,000 and all Commitment Shares and Subscriber Shares related to the Second Amended Commitment Amount
were issued.

On April 16, 2025, the Company, Callaway, as a commitment party, and the subscribers party thereto further entered into a subscription
agreement on the form of the Amended and Restated Subscription Agreement (the “2025 Note Subscription Agreement”), pursuant to which (i)
the subscribers agreed to, from time to time, subscribe for the Company’s 12.50% Convertible Senior Secured Notes due 2029 (the