Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 129

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 129
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 per share. Common Stock Our Charter authorizes one class of common stock. Dividend Rights The DGCL permits a corporation to declare and pay dividends out of “surplus” or, if there is no “surplus”, out of its net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year. “Surplus” is defined as the excess of the net assets of the corporation over the amount determined to be the capital of the corporation by the board of directors. The capital of the corporation is typically calculated to be (and cannot be less than) the aggregate par value of all issued shares of capital stock. Net assets equals the fair value of the total assets minus total liabilities. The DGCL also provides that dividends may not be paid out of net profits if, after the payment of the dividend, capital is less than the capital represented by the outstanding stock of all classes having a preference upon the distribution of assets. Delaware common law also imposes a solvency requirement in connection with the payment of dividends. Holders of the Common Stock may be entitled to receive dividends out of funds legally available therefor if Board, in its discretion, determines to authorize the issuance of dividends and then only at the times and in the amounts that Board may determine. Voting Rights Holders of the Common Stock will be entitled to one vote for each share held as of the record date for the determination of the shareholders entitled to vote on such matters, including the election and removal of directors, except as otherwise required by law. Under Delaware law, the right to vote cumulatively does not exist unless the certificate of incorporation specifically authorizes cumulative voting. Our Charter does not authorize cumulative voting and will provide that no shareholder will be permitted to cumulate votes at any election of directors. Consequently, the holders of a majority of the outstanding shares of Common Stock can elect all of the directors then standing for election, and the holders of the remaining shares will not be able to elect any directors. Right to Receive Liquidation Distributions If the Company becomes subject to a liquidation, dissolution, or winding -up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of the Common Stock, subject to prior satisfaction of all outstanding debt and liabilities. Other Matters All outstanding shares of Common Stock will be fully paid and nonassessable. Common Stock will not be entitled to preemptive rights and will not be subject to redemption or sinking fund provisions. Preferred Stock There are currently no plans to issue any shares of the