Company: MAGH
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001493152-25-000010
Chunk: 42

Company: Magnitude International Ltd
Filing Date: 2025-01-02
Form: DRS
Chunk 42
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 Share, representing the difference between our pro forma as adjusted net tangible book value per Ordinary Share of US$[●] as of April 30, 2024 after giving effect to the net proceeds to us from this offering, assuming no change to the number of Ordinary Shares offered by us as set forth on the cover page of this prospectus and an assumed public offering price of US$[●] per Ordinary Share (being the mid-point of the offer price range stated on the cover of this prospectus). See “Dilution” for a more complete description of how the value of your investment in our Ordinary Shares will be diluted upon the completion of this offering.

You must rely on the judgment of our management as to the uses of the net proceeds from this offering, and such uses may not produce income or increase our share price.

We plan to use the net proceeds of this offering primarily for the purposes described in the section “Use of Proceeds” . See “Use of Proceeds” for further information. However, our management will have considerable discretion in the application of the net proceeds received by us in this offering. You will not have the opportunity, as part of your investment decision, to assess whether proceeds are being used appropriately. The net proceeds may be used for corporate purposes that do not improve our efforts to achieve or maintain profitability or increase our share price. The net proceeds from this offering may be placed in investments that do not produce income or that lose value.

We are a “controlled company” within the meaning of the rules of Nasdaq and, as a result, we are permitted to elect to rely, and may rely on exemptions from certain corporate governance requirements that provide protection to shareholders of other companies.

Upon the completion of this offering, we will be a “controlled company” as defined under the rules of Nasdaq. For so long as we remain a controlled company under that definition, we are permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including:

| ● | an                                                                                               
 exemption from the rule that a majority of our board of directors must be independent directors; |

| 32 |

| ● | an                                                                                                                                   
 exemption from the rule that the compensation of our chief executive officer must be determined or recommended solely by independent 
 directors; and                                                                                                                       |
| ● | an                                                                                                                                   
 exemption from the rule that our director nominees must be selected or recommended solely by independent directors.                  |

As a result, you may not have the same protection afforded to shareholders of companies that are