- Melar Acquisition Corp. I (MACI) entered into an **Amended and Restated Secured Promissory Note and Pledge Agreement** (Amended Everli Note) with Everli Global Inc. on **August 18, 2025**, increasing the maximum principal amount Everli can borrow from **$300,000** to **$1,000,000**.  **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:1]** **[2016221_0001104659-25-081970_tm2524169d1_ex10-1.htm:1]** **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:2]**  The note bears an annual interest rate of **17.5%** and includes a **10% original issue discount**, with an initial balance of **$323,434.30** rolled over from the original note.  **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:1]** **[2016221_0001104659-25-081970_tm2524169d1_ex10-1.htm:1]** 
- Concurrently, MACI issued an **Amended and Restated Promissory Note** (Amended Sponsor Note) to its sponsor on **August 18, 2025**, also increasing the maximum principal amount MACI can borrow from **$300,000** to **$1,000,000**.  **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:2]** **[2016221_0001104659-25-081970_tm2524169d1_ex10-2.htm:2]**  This note also has a **17.5%** annual interest rate and a **10% original issue discount**, with an initial balance of **$323,434.30**.  **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:2]** **[2016221_0001104659-25-081970_tm2524169d1_ex10-2.htm:2]** 
- The proceeds from the **Amended Sponsor Note** are designated solely for lending funds to Everli under the **Amended Everli Note**.  **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:2]** **[2016221_0001104659-25-081970_tm2524169d1_ex10-2.htm:2]** 
- MACI's repayment obligations on the **Amended Sponsor Note** are contingent on the repayment of the **Amended Everli Note**, with the Everli Note proceeds being the sole source for repayment.  **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:2]** **[2016221_0001104659-25-081970_tm2524169d1_ex10-2.htm:1]** 
- Both amended notes are intended to cover transaction expenses related to a potential merger agreement between MACI and Everli.  **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:1]** **[2016221_0001104659-25-081970_tm2524169d1_ex10-1.htm:1]** **[2016221_0001104659-25-081970_tm2524169d1_8k.htm:2]**

Melar Acquisition Corp. I/Cayman (MACI)