Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 11

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 11
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 A Warrant ADSs that       
 would be issuable upon exercise of this Series A Warrant in accordance with the terms of this Series A Warrant if such exercise were by         
 means of a cash exercise rather than a cashless exercise, multiplied by (ii) 3.0. Accordingly, we believe it is highly unlikely that a          
 holder of the Series A Warrants would pay an exercise price in cash to receive one ADS when the holder could instead choose the zero cash       
 exercise option and pay no cash to receive more ADSs than they would receive if they did pay an exercise price. As a result, we will likely     
 not receive any additional funds and do not expect to receive any additional funds upon the exercise of the Series A Warrants.                  
 As an example, for each ADS that an investor purchases in this offering                                                                         
 at the offering price of $1.30 per ADS, the investor will receive 1 ADS and also 1 Series A Warrant to purchase 1 ADS at an exercise price      
 of $1.30 per ADS. Giving effect solely to the adjustment on the first Reset Date and not giving effect to the zero cash exercise option,        
 on the first Reset Date, each Series A Warrant will become exercisable for a maximum of 1.4286 ADSs at an exercise price of $0.91 per           
 ADS. If such Series A Warrant is then exercised at such time based on the zero cash exercise option, the Series A Warrant would be exercisable  
 into 4.2857 ADSs. If the Warrant remains outstanding as of the second Reset Date, giving effect solely to the potential adjustment on           
 the second Reset Date and not giving effect to the zero cash exercise option, on the second Reset Date, each Warrant will become exercisable    
 for a maximum of 2 ADSs at an exercise price of $0.65 per ADS. If such Warrant is then exercised at such time based on the zero cash exercise   
 option, the Warrant would be exercisable into 6 ADSs. Accordingly, if all of the Series A Warrants offered to investors in this offering        
 are exercised on a zero cash basis, a maximum of 64,615,250 shares could be issued upon such zero cash exercise, without payment to the         
 Company of any additional cash. For the avoidance of doubt, the lower the closing price of our ADSs on the Nasdaq Capital Market immediately    
 prior to the effectiveness of the registration statement of which this prospectus forms a part