Company: OTSA
Filing Date: 2025-07-07
Form Type: F-1/A
Source: 0001213900-25-061733
Chunk: 28

Company: OTSAW Ltd
Filing Date: 2025-07-07
Form: F-1/A
Chunk 28
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, Mr. Ling will be able to exercise significant voting influence over fundamental and significant corporate matters and transactions. This concentrated control may limit or preclude your ability to influence corporate matters for the foreseeable future, including the election of directors, amendments of our organizational documents, and any merger, consolidation, sale of all or substantially all of our assets, or other major corporate transaction requiring shareholder approval. In addition, this may have anti -takeovereffects and may prevent or discourage unsolicited acquisition proposals or offers for our share capital that you may feel are in your best interest as one of our shareholders. As a “controlled company” as defined under the Nasdaq Stock Market Rules, we are permitted to elect to rely on certain exemptions from corporate governance rules, including the following: •an exemption from the rule that a majority of our board of directors must be independent directors; •an exemption from the rule that the compensation of our chief executive officer must be determined or recommended solely by independent directors; and •an exemption from the rule that our director nominees must be selected or recommended solely by independent directors. As a result, you may not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements. 11 Although we currently do not intend to rely on the “controlled company” exemption under the Nasdaq listing rules, we may elect to do so after we complete this offering. If we elect to rely on the “controlled company” exemption, a majority of the members of our board of directors might not be independent directors and our nominating and corporate governance and compensation committees might not consist entirely of independent directors after we complete this offering. Additionally, pursuant to Nasdaq’s phase -inrules for newly listed companies, we have one year from the date on which we are first listed on Nasdaq to comply fully with the Nasdaq listing standards. We do not plan to rely on the phase -inrules for newly listed companies and plan to comply fully with the Nasdaq listing standards at the time of listing. Implications of Being an Emerging Growth Company and a Foreign Private Issuer Emerging Growth Company As a company with less than US$1.235 billion in revenue during our last fiscal year, we qualify as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. An “emerging growth company” may take advantage of reduced reporting requirements that are otherwise applicable to larger public companies. In particular, as an emerging growth company, we: •may present only two