Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 16

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 16
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 were issued by Old Foxx to Grazyna (the “Note 5”) in the total principal amount of $3million on September12, 2024. Immediately prior to the Closing, all the accrued and unpaid principal and interests on the New Bay Notes, Note4, and Note 5 were converted into: (x) 212,050shares of Old Foxx common stock for the New Bay Notes, (y) 200,882shares of Old Foxx common stock for Note4, and (z) 100,690share of Old Foxx common stock for Note5, at a price of $30.00 per share. At the Closing, all of the converted shares of Old Foxx common stock were cancelled in exchange for the holders’ pro rata share of the Closing Payment Shares using the exchange ratio of 3.3033, resulting in (x) 700,473shares of our Common Stock issued to New Bay, (y) 663,581shares of our Common Stock issued to BR Technologies, and (z) 332,614shares of our Common Stock issued to Grazyna. Emerging Growth Company We are an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and we may take advantage of reduced reporting requirements that are otherwise applicable to public companies. Section 107 of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with those standards. The JOBS Act also exempts us from having to provide an auditor attestation of internal control over financial reporting under Sarbanes -OxleyAct Section 404(b). We will remain an emerging growth company until the earlier of: (i) the last day of the fiscal year (a) following the fifth anniversary of the Closing Date, (b) in which we have an annual total gross revenue of at least US$1.235 billion, or (c) in which we are deemed to be a large accelerated filer, which means the market value of our ordinary equity that is held by non -affiliatesexceeds US$700 million as of the last business day of the second fiscal quarter of such fiscal year; and (ii) the date on which we have issued more than US$1 billion in non -convertibledebt securities during the prior three -yearperiod.