Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 102

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 102
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 note was issued by Old Foxx to BR (the “Note 4”) in the principal amount of $6 million and promissory noteswere issued by Old Foxx to Grazyna (the “Note 5”) in the total principal amount of $3 million on September 12, 2024. Immediately prior to the Closing, all the accrued and unpaid principal and interests on the New Bay Notes, Note 4, 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 Note 4, and (z) 100,690share of Old Foxx common stock for Note 5, 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. Our Business Founded in Texas in 2017, we are a technology innovation company in the communications sector. Since then, we have expanded our footprint to various locations in the United States, such as San Francisco, CA, Dallas, TX, Atlanta, GA, Los Angeles, CA, Miami, FL, and New York, NY, where we provide sales, retail, distribution, and after -salessupport services, and engage in research and development of new customization standards and services. We provide a range of Foxx -brandedproducts, including tablets, smartphones, wearables, and other high -qualitycommunication terminals. Our products are priced competitively after considering various factors such as product costs, research and development investments, regulatory compliance, testing expenses, and shipping costs. Our customers are primarily third -partydistributors and sales agents who sell our products in the U.S. public channels and to major carriers in the United States such as T -Mobile, AT&T, and Verizon. We source our products from various original design manufacturer suppliers, providing them with detailed hardware and software specifications to handle the custom development of our products. Once our products are manufactured, we collaborate with third -partyagencies to obtain the required testing and certification, such