Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 287

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 287
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 common equity (x) at the option of the holder at any time while the note remains outstanding and (y) automatically
in the event of a qualified equity financing, IPO, direct listing, or change of control. Additionally, we will issue to Sabeera 1 warrants
to purchase up to 14,104,372 shares of our Series A common stock at an exercise price per share of $0.01 (which will be converted into
up to 14,084,337 shares of our Series A common stock following the consummation of the Reorganization). The warrants will be issued on
a rolling, pro rata basis that corresponds with the amount of funding drawn, if any, from the facility. Sabeera 1’s obligation to
provide funding under the facility will end upon the earlier to occur of (i) the consummation of a planned reorganization to be consummated
in connection with a go-public transaction involving us (the “Reorganization”) and (ii) the date which is ten (10)
business days prior to the maturity date of the Convertible Note. There are no fees or other charges payable to Sabeera 1 in order to
maintain the investment commitment. Adel Ghazzawi, a former director of Triller Corp., is the manager of Sabeera 1.

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On April 7, 2023, the Company entered into a subscription
agreement with Sabeera Triller 2 LLC (“Sabeera 2”) pursuant to which we are entitled to draw down from time to time,
at our option and in our sole discretion, up to a maximum aggregate amount of $100.0 million of gross proceeds from Sabeera 2 in exchange
for a Convertible Note in an amount equal to the sum of all draws. The Convertible Note will mature 180 days after its initial issuance
and bear simple interest, payable in kind, at a rate of 7.5% per annum, and is convertible at a conversion price of 80% of the then current
fair market value of the common equity (x) at the option of the holder at any time while the note remains outstanding and (y) automatically
in the event of a qualified equity financing, IPO, direct listing, or change of control. Additionally, we will issue to Sabeera 2 warrants
to purchase up to 14,104,372 shares of our Series A common stock at