Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 563

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 2
Chunk 563
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ITEM
2. PROPERTIES

Our corporate headquarters are located in 15375 Barranca Parkway C106,
Irvine, CA. Our facilities are leased from independent third parties. The lease terms range from 1 to 7 years, with the option to
renew upon expiration. We believe our current facilities are generally sufficient for our present needs.

    Location 
    Square Footage  
    Purpose (Office or Manufacturing) 
    Lease Expiration Date 
    Monthly Payments 
  
    Irvine, CA 
     1,548  
    Flex Space 
    09/30/2026 
    $3,653.28 
  
    San Diego, CA 
     2,800  
    Office 
    05/31/2031 
    $3605.00 
  
    Alpharetta, GA 
     300  
    Office 
    02/14/2026 
    $591.25 

ITEM
3. LEGAL PROCEEDINGS

From
time to time, we may be subject to legal proceedings and claims in the ordinary course of business. Currently, we are not a party to
any material legal proceedings or subject to any material claims, except as disclosed below.

On November 22, 2024, Ximena Semensato (the “Plaintiff”)
filed Semensato v. Foxx Development Holdings Inc., et al., No. 2024-1200 (Del. Ch. Ct.), a class action complaint (the “Complaint”)
in Delaware Chancery Court (the “Court”) against the Company and certain “Individual Defendants” (“Joy”
Yi Hua, Haitao Cui, “Jeff” Feng Jiang, “Eva” Yiqing Miao and Edmund R. Miller) (the “Action”). The
Plaintiff seeks declaratory relief under provisions of the Delaware General Corporation Law relating to a waiver of the corporate opportunity
doctrine that is contained in the Company’s Amended and Restated Certificate of Incorporation. The Company and each of the Individual
Defendants denied any and all wrongdoing alleged in the Complaint. However, to avoid the cost and distraction of litigation, the directors
of the board of the Company determined that it was advisable and in the best interests of the Company and its stockholders to amend Article
X of the Charter (the “Amendment”). The Board approved and adopted the Second Amended and Restated Certificate of