Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 152

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 152
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 the shareholder on the shares of the company.

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Differences in Corporate Law

The Cayman Islands Companies Act is modeled after
that of English law but does not follow recent English statutory enactments. In addition, the Cayman Islands Companies Act differs from
laws applicable to United States corporations and their shareholders. Set forth below is a summary of the significant differences between
the provisions of the Cayman Islands Companies Act applicable to us and the laws applicable to companies incorporated in the State of
Delaware.

Mergers and Similar Arrangements

The Cayman Islands Companies Act permits mergers
and consolidations between Cayman Islands companies and between Cayman Islands companies and non-Cayman Islands companies. For these purposes,
a “merger” means the merging of two or more constituent companies and the vesting of their undertaking, property and liabilities
in one of such companies as the surviving company, and a “consolidation” means the combination of two or more constituent
companies into a consolidated company and the vesting of the undertaking, property and liabilities of such companies to the consolidated
company.

In order to effect such a merger or consolidation,
the directors of each constituent company must approve a written plan of merger or consolidation, which must then be authorized by a special
resolution of the shareholders of each constituent company, and such other authorization, if any, as may be specified in such constituent
company’s articles of association.

The plan of merger or consolidation must be filed
with the Registrar of Companies of the Cayman Islands together with the requisite declarations and undertakings required under the Cayman
Islands Companies Act, including a declaration as to the solvency of the consolidated or surviving company, a list of the assets and liabilities
of each constituent company and an undertaking that a copy of the certificate of merger or consolidation will be given to the members
and creditors of each constituent company and that notification of the merger or consolidation will be published in the Cayman Islands
Gazette. Dissenting shareholders have the right to be paid the fair value of their shares if they follow the required procedures, under
the Cayman Islands Companies Act subject to certain exceptions. The fair value of the shares will be determined by the Cayman Islands
court if it cannot be agreed among the parties. Court approval is not required for a merger or consolidation effected in compliance with
these statutory procedures.

In addition, there are statutory provisions that
facilitate the reconstruction of companies, provided that the arrangement