Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 247

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 247
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 connection with the listing of our Class A Common Shares, buyers and sellers who have subscribed will have access to Nasdaq’s Order Imbalance Indicator, or the Net Order Imbalance Indicator, a widely available, subscription-based data feed, prior to submitting buy or sell orders. Nasdaq’s electronic trading platform simulates auctions every second to calculate a Current Reference Price, the number of Class A Common Shares that can be paired off the Current Reference Price, the number of Class A Common Shares that would remain unexecuted at the Current Reference Price and whether a buy-side or sell-side imbalance exists, or whether there is no imbalance, to disseminate that information continuously to buyers and sellers via the Net Order Imbalance Indicator data feed. 168

However, because this is not an underwritten initial public offering, there will be no
traditional book building process (that is, an organized process pursuant to which buy and sell interest is coordinated in advance to some prescribed level – the “book”). Moreover, prior to the opening trade, there will not be a price
at which underwriters initially sold Class A Common Shares to the public, as there would be in an underwritten initial public offering. The lack of an initial public offering price could impact the range of buy and sell orders collected by Nasdaq
from various broker-dealers. Consequently, the public price of our Class A Common Shares may be more volatile than in an initial public offering and could, upon being listed on Nasdaq, decline significantly and rapidly.

In addition, to list on Nasdaq, we are also required to have at least four registered and active market makers. We understand that the Advisor
intend (but is not obligated) to act as a registered and active market maker and to engage other market makers, although any such market-making, if commenced, may be discontinued at any time.

In addition to sales made pursuant to this prospectus, the Class A Common Shares covered by this prospectus may be sold by the registered
shareholders in private transactions exempt from the registration requirements of the Securities Act. Under the securities laws of some states, the Class A Common Shares may be sold in such states only through registered or licensed brokers or
dealers.

A registered shareholder may from time to time transfer, distribute (including distributions in kind by registered shareholders
that are investment funds), pledge, assign, or grant a security interest in some or all the Class A Common Shares owned by it and, if it defaults in the performance of its secured obligations, the transferees, distributees,