Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 103

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 103
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 the board of directors may deem relevant. In the event we decide to pay dividends in the future, subject to the Companies Act (As Revised) of the Cayman Islands, our board of directors may from time to time declare dividends in any currency to be paid on our Class A Ordinary Shares, and our shareholders may by ordinary resolution declare a dividend, but no dividend shall be declared in excess of the amount recommended by our board of directors. Under Cayman Islands law, a Cayman Islands company may pay a dividend out of either profits (including retained earnings) or share premium, provided that in no circumstances may a dividend be paid if this would result in our Company being unable to pay its debts as they fall due in the ordinary course of its business. Even if our board of directors decides to pay dividends, the form, frequency and amount will depend upon our future operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that the board of directors may deem relevant. We are a holding company and depend on the receipt of dividends and other distributions from our subsidiaries to pay dividends on our Class A Ordinary Shares. There are no foreign exchange controls or foreign exchange regulations under current applicable laws of the various places of incorporation of our subsidiaries that would affect the payment or remittance of dividends. 56

CAPITALIZATION The following table sets forth our capitalization as of October31, 2024: •on an actual basis; •on a pro forma basis giving effect to the issuance of 136,976 Class A Ordinary Shares in January 2025 for a total consideration of $550,000 and 176,532 Class A Ordinary Shares in March 2025 for a total consideration of $530,000, as adjusted for the 2.2 -for-1share consolidation, but excluding the effect of the sales of Class A Ordinary Shares in this offering; and •on a pro forma as adjusted basis giving effect to (1) the issuance of 136,976 Class A Ordinary Shares in January 2025 for a total consideration of $550,000 and 176,532 Class A Ordinary Shares in March 2025 for a total consideration of $530,000, as adjusted for the 2.2 -for-1share consolidation; and (2) the completion of the firm commitment offering, assuming no over -allotmentoption is exercised, at an assumed public offering price of $5.0 per share and to reflect the application of the proceeds after deducting the estimated placement fees. You