Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 56

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 4
Chunk 56
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 under applicable law. The Convertible Note Financing closed on December 9, 2024. The Company received
an aggregate purchase price of $1,700,000.

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On
February 10, 2025, the Company received a deficiency letter from Nasdaq that, based upon the closing bid price of the Company’s
ordinary shares over the 30 consecutive business day period between December 24, 2024 and February 7, 2025, the Company was not in compliance
with the requirement to maintain a minimum bid price of $1.00 per share of its Ordinary Shares for continued listing on The Nasdaq Global
Market, as set forth in Nasdaq Listing Rule 5450(a)(1) (the “ Minimum Bid Price Requirement”).

On
March 3, 2025, the Company entered into a standstill agreement with Streeterville Capital, LLC. Pursuant to the agreement, Streeterville
will not redeem any portion of its outstanding note with the Company, dated November 26, 2024 (the “ Note”), during the earlier
of (a) 60 days from March 3, 2025, or (b) the date on which any registration statement filed by the Company with the SEC in connection
with any future fundraising transaction is declared effective. In consideration for the standstill, the Company will pay Streeterville
a standstill fee equal to 2% of the outstanding balance of the Note (the “ Standstill Fee”). As of March 3, 2025, the outstanding
balance of the Note, inclusive of the Standstill Fee, is $1,916,287.86.

On
March 5, 2025, the Board of Directors of the Company approved an amendment to the Amended and Restated Memorandum and Articles of Association
of the Company to increase the authorized share capital to an unlimited amount.

On
March 6, 2025, the Company entered into a securities purchase agreement with 10 non-U. S. investors pursuant to which the Company agreed
to issue and sell in a private placement offering an aggregate of 100,000,000 ordinary shares at a purchase price per share of $0.10,
for gross proceeds of $10,000,000, of which proceeds will be used for working capital and other general corporate purposes. Pursuant
to such purchase agreement, within 45 days of the date of the purchase agreement, the Company will file a registration statement on Form