Company: RGNT
Filing Date: 2025-01-24
Form Type: DRS
Source: 0001213900-25-006245
Chunk: 292

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-01-24
Form: DRS
Chunk 292
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, the grant of an exclusive license to all or substantially
all of the intellectual property rights of the Company), in a single transaction or a series of related transactions, the Company and
its shareholders shall take such actions as are required to effect a distribution in accordance with Company’s AOA, unless each
of the holders of convertible preferred shares vote collectively against effecting such distribution.

In the event of an IPO, the conversion
price of the preferred shares shall be adjusted to reflect a deemed liquidation distribution to the preferred shares as provided in Company’s
AOA, such that the number of ordinary shares issuable upon conversion thereof shall reflect that number of ordinary shares that would
have been distributed with respect the preferred shares in a distribution made according to Company’s AOA at the pre-money valuation
of the IPO.

Although the convertible preferred shares
are not redeemable, in the event of certain “Deemed Liquidation Event” that are not solely within the Company’s control
(including merger, acquisition, or sale of all or substantially all of the Company’s assets), the holders of the convertible preferred
shares would be entitled to preference amounts paid before distribution to other shareholders (as explained in the previous paragraph)
and, hence, effectively redeeming the preference amount. The convertible preferred shares are classified outside of shareholders’
deficit as a result of these in-substance contingent redemption rights.

As of December 31, 2023, the Company did
not adjust the carrying values of the preferred shares to the deemed liquidation values of such shares since a liquidation event was not
probable of occurring.

<div align='center'>F-41</div>

REGENTIS BIOMATERIALS LTD.

NOTES TO FINANCIAL STATEMENTS

U.S. dollars in thousands, except share and per share data

| NOTE 11:- | SHAREHOLDERS’ DEFICIT |

:

Ordinary shares confer to holders the
right to receive notice to participate and vote in the general meetings of the Company and the right to receive dividends if declared.
However, certain ordinary shareholders, who received those shares upon their exercise of options pursuant to the Company’s share
option plan, have signed an irrevocable proxy appointing the Chairman of the Company’s Board of Directors to use the voting rights
of their ordinary shares.

In December 2023, the Company and certain
preferred shareholders signed a voting agreement according to which all issued and outstanding preferred shares shall vote at any shareholders
meeting in order to convert all preferred shares into