Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 272

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 272
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; (iii) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities; or (iv) publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any Lock-Up Securities. Right of First Refusal Subject to certain conditions, we granted the Representative, for a period of 12 months immediately following the [closing of the offering], a right of first refusal to act as underwriter or book-running manager or placement agent, with at least 25% of the economics, for each and every future public and private equity and public debt offerings of the Company. In accordance with FINRA Rule 5110(g)(6)(A), such right of first refusal shall not have a duration of more than three years from the commencement of sales of this offering. Stabilization Until the distribution of shares of ADSs is complete, SEC rules may limit the ability of the underwriters to bid for and purchase shares of our ADSs. As an exception to these rules, underwriters are permitted to engage in certain transactions which stabilize the price of the shares of ADSs, which may include short sales, covering transactions and stabilizing transactions. Short sales involve sales of ADSs in excess of the number of shares to be purchased by the underwriters in the offering, which creates a short position. “Covered” short sales are sales made in an amount not greater than the underwriters’ option to purchase additional ADSs from us in the offering. An underwriter may close out any covered short position by either exercising its option to purchase additional ADSs or purchasing ADSs in the open market. In determining the source of ADSs to close out the covered short position, an underwriter will consider, among other things, the price of shares of ADSs available for purchase in the open market as compared to the share price at which the underwriters may purchase through its option to purchase additional shares. “Naked” short sales are any sales in excess of such option. The underwriters must close out any naked short position by purchasing ADSs in the open market. A naked short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price of the ADSs in the open market after pricing that could adversely affect investors who purchase in the offering. Stabilizing transactions consist of various bids for or purchases of the ADSs made by the underwriters in the open market prior to the completion of