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Gauzy Ltd

For the period ended Dec 31, 2024. Filed Mar 11, 2025.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Mar 11, 2025

GAUZ$5.95-8.9%Stored close · as of Nov 6, 2026
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**UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 20-F

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31,2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report ____________

For the transition period from ____________ to ____________

Commission File No.:001-42124

**Gauzy Ltd. **

(Exact name of registrant as specified in its charter)

Translation of registrant’s name into English: Not applicable

State of Israel14 Hathiya Street, Tel Aviv 6816914, Israel
(Jurisdiction of incorporation or organization)(Address of principal executive offices)

**Eyal Peso

Chief Executive Officer and Chairman

14 Hathiya Street, Tel Aviv 6816914, Israel

Tel: +972-72-250-0385

**Email: eyal@gauzy.com **

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class to be registeredTrading Symbol(s)Name of each exchange on which each class is to be registered
Ordinary Shares, no par value per shareGAUZThe Nasdaq Stock Market LLC

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Number of outstanding shares of each of the issuer’s classes of capital or common stock as of December 31, 2024:18,720,287 ordinary shares.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act of 1934. Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company.

Large accelerated filer ☐Accelerated filer ☒Non-accelerated filer ☐
Emerging Growth Company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.☐

†The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing.

U.S. GAAP ☒International Financial Reporting Standards as issued by the International Accounting Standards Board ☐Other ☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. ☐ Item 17 ☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company. Yes ☐No ☒

TABLE OF CONTENTS

Page
INTRODUCTIONv
PRESENTATION OF FINANCIAL INFORMATIONv
Non-GAAP Financial Measures and Key Business Metricsv
TRADEMARKSv
MARKET, INDUSTRY AND OTHER DATAvi
EMERGING GROWTH COMPANY STATUSvi
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTSvii
PART I1
ITEM 1.IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS1
ITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLE1
ITEM 3.KEY INFORMATION1
A.[Reserved]1
B.Capitalization and Indebtedness1
C.Reasons for the Offer and Use of Proceeds1
D.Risk Factors1
ITEM 4.INFORMATION ON THE COMPANY39
A.History and Development of the Company39
B.Business Overview40
C.Organizational Structure64
D.Property, Plants and Equipment65
ITEM 4A.UNRESOLVED STAFF COMMENTS65
ITEM 5.OPERATING AND FINANCIAL REVIEW AND PROSPECTS66
A.Operating Results69
B.Liquidity and Capital Resources76
C.Research and Development, Patents and Licenses84
D.Trend Information84
E.Critical Accounting Estimates84
ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES86
A.Directors and Senior Management86
B.Compensation89
C.Board Practices92
D.Employees103
E.Share Ownership103
F.Disclosure of a registrant’s action to recover erroneously awarded compensation105
ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS106
A.Major Shareholders106
B.Related Party Transactions108
C.Interests of Experts and Counsel111
ITEM 8.FINANCIAL INFORMATION111
A.Consolidated Statements and Other Financial Information111
B.Significant Changes112
ITEM 9.THE OFFER AND LISTING112
A.Offer and Listing Details112
B.Plan of Distribution112
C.Markets112
D.Selling Shareholders112
E.Dilution112
F.Expenses of the Issue112

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ITEM 10.ADDITIONAL INFORMATION112
A.Share Capital112
B.Articles of Association112
C.Material Contracts112
D.Exchange Controls113
E.Taxation113
F.Dividends and Paying Agents121
G.Statement by Experts122
H.Documents on Display122
I.Subsidiary Information122
ITEM 11.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK122
ITEM 12.DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES123
PART II124
ITEM 13.DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES124
ITEM 14.MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS124
ITEM 15.CONTROLS AND PROCEDURES124
ITEM 16.[RESERVED]125
ITEM 16A.AUDIT COMMITTEE FINANCIAL EXPERT125
ITEM 16B.CODE OF ETHICS125
ITEM 16C.PRINCIPAL ACCOUNTANT FEES AND SERVICES125
ITEM 16D.EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES126
ITEM 16E.PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS126
ITEM 16F.CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT126
ITEM 16G.CORPORATE GOVERNANCE126
ITEM 16HMINE SAFETY DISCLOSURE127
ITEM 16I.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS127
ITEM 16J.INSIDER TRADING POLICIES127
ITEM 16K.CYBERSECURITY127
PART III128
ITEM 17.FINANCIAL STATEMENTS128
ITEM 18.FINANCIAL STATEMENTS128
ITEM 19.EXHIBITS128
SIGNATURES131

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ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.