Company: OTSA
Filing Date: 2025-07-25
Form Type: F-1/A
Source: 0001213900-25-067724
Chunk: 2

Company: OTSAW Ltd
Filing Date: 2025-07-25
Form: F-1/A
Chunk 2
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6. Indemnification of Directors and Officers. Cayman Islands law does not limit the extent to which a company’s articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. The underwriting agreement, the form of which will be filed as Exhibit 1.1 to this registration statement, provide for indemnification by the underwriter of us and our officers and directors for certain liabilities, including liabilities arising under the Securities Act, but only to the extent that such liabilities are caused by information relating to the underwriter furnished to us in writing expressly for use in this registration statement and certain other disclosure documents. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. Item 7. Recent Sales of Unregistered Securities. During the past three years, we have issued the following securities which were not registered under the Securities Act. We believe that each of the following issuances were exempt from registration under the Securities Act in reliance on Regulation D under the Securities Act or pursuant to Section 4(2) of the Securities Act regarding transactions not involving a public offering or in reliance on Regulation S under the Securities Act regarding sales by an issuer in offshore transactions. No underwriters were involved in these issuances of securities. Upon incorporation on June 10, 2022, the Company issued 1 ordinary share to WB Corporate Services (Cayman) Ltd. which was transferred to Mr.Ling Ting Ming on the same date. These shares were issued in reliance on the exemption under Section 4(a)(2) and/or Regulation S of the Securities Act. On May 17, 2023, the sole shareholder of the Company passed resolutions to: (i) effect a 1:10,000share split, (ii) to designate the then issued and outstanding ordinary shares into Class A Ordinary Shares of a par value of US$0.0001 each, (iii) to increase the authorized share capital of the Company to US$50,000 divided into 499,999,999 Class A Ordinary Shares of a par value of US$0.0001 each and 1 Class B