Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 143

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 143
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 a non -U.S. holder might be eligible for refunds or credits of such taxes. An intergovernmental agreement between the United States and an applicable foreign country may modify the requirements described in this paragraph. You should consult your tax advisors regarding the possible implications of FATCA on your investment in our Common Stock. The preceding discussion of U.S. federal tax considerations is for general information only. It is not tax advice. Each prospective investor should consult its tax advisor regarding the particular U.S. federal, state and local and non -U .S. tax consequences of purchasing, holding and disposing of our Common Stock, including the consequences of any proposed change in applicable laws. 93 PLAN OF DISTRIBUTION We are registering the issuance by us of up to 12,145,917shares of Common Stock issuable upon the exercise of the Warrants. Pursuant to the terms of the Warrants, shares of Common Stock will be distributed to those holders who surrender the Warrants and provide payment of the exercise price to us. Upon receipt of proper notice by any of the holders of the Warrants issued that such holder desires to exercise the Warrant, we will, within the time allotted by the agreement governing the Warrants, issue instructions to our transfer agent to issue shares of Common Stock to the holder. If, at the time the Warrants are exercised, this registration statement is effective and the prospectus included herein is current, the Common Stock issued upon the exercise of the Warrants will be issued free of a restrictive legend. We could potentially receive up to an aggregate of $139,678,046 from the exercise of the Warrants, assuming the exercise in full of all of these warrants for cash. The likelihood that warrant holders will exercise the Warrants and any cash proceeds that we would receive is dependent upon the market price of our Common Stock. Based on the closing price of our Common Stock at $3.61 on January23, 2025, which is less than the exercise price of $11.50 per share pursuant to the terms of the Warrants, we believe holders of the Warrants will be unlikely to exercise their Warrants, and we are unlikely to receive proceeds from the exercise of Warrants. For additional information regarding expenses of registration, see the section titled “ Use of Proceeds.” 94 LEGAL MATTERS The validity of the securities offered by this prospectus has been passed upon for us by Robinson & Cole LLP Certain legal matters in connection with the securities offered hereby may be passed upon for any underwriters, dealers or