Company: XTKG
Filing Date: 2025-07-17
Form Type: 424B5
Source: 0001213900-25-064921
Chunk: 35

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-07-17
Form: 424B5
Chunk 35
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 adjusted US$3.22) per Ordinary Share to our existing shareholders and an immediate increase
in net tangible book value of US$0.33 (post-reverse stock split adjusted US$2.00) per Ordinary Share to the Investors participating in
this offering.

The
following table illustrates the net tangible book value dilution per Ordinary Share to shareholders after the issuance of the Class A
Ordinary Shares in this offering:

| Actual net tangible book value per Ordinary Share as of December 31, 2024            |     | US$2.53 (post-reverse stock split adjusted US$15.20) |
| Pro forma net tangible book value per Ordinary Share as of December 31, 2024         |     | US$1.30 (post-reverse stock split adjusted US$7.80)  |
| Decrease to net tangible book value per ordinary share to existing shareholders      |     | US$0.54 (post-reverse stock split adjusted US$3.22)  |
| Pro forma as-adjusted net tangible book value per ordinary share after this offering |     | US$0.76 (post-reverse stock split adjusted US$4.58)  |
| Increase to net tangible book value per ordinary share to new investors              |     | US$0.33 (post-reverse stock split adjusted US$2.00)  |

The
foregoing table and discussion is based on 13,755,975 Class A Ordinary Shares (post-reverse stock split adjusted 2,292,652) and 12,195
(post-reverse stock split adjusted 2,032) Class B Ordinary Shares outstanding as of December 31, 2024.

This
discussion of dilution, and the table quantifying it, assumes no exercise of any outstanding options over our Class A Ordinary Shares.

<div align='center'>S-18

USE OF PROCEEDS</div>

We estimate that we will receive
cash net proceeds from this offering, after deducting offering expenses payable by us, of US$25.8 million.

We intend to use the net
proceeds from this offering for working capital and general corporate purposes.

The foregoing represents
our current intentions based upon our present plans and business conditions to use and allocate the net proceeds of this offering. Our
management, however, will have significant flexibility and discretion to apply the net proceeds of this offering. If an unforeseen event
occurs or business conditions change, we may use the