Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 13

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 13
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 also carefully consider the risk factors set forth under “Risk Factors” described in our most recent annual report on Form 20-F, filed on May 15, 2025, as supplemented and updated by subsequent current reports on Form 6-K that we have filed with the SEC, together with all other information contained or incorporated by reference in this prospectus and any applicable prospectus supplement and in any related free writing prospectus in connection with a specific offering, before making an investment decision. Each of the risk factors could materially and adversely affect our business, operating results, financial condition and prospects, as well as the value of an investment in our securities, and the occurrence of any of these risks might cause you to lose all or part of your investment.

Risks Related to this Offering and our ADSs and warrants

As a result of the reset provisions and subsequent ADS adjustments in the Series A Warrants and Placement Agent Warrants, and/or if these warrants are exercised pursuant to the zero cash exercise option, holders of our ADSs are likely to suffer substantial dilution and may experience a significant decrease in the value of their ADSs.

The Series A Warrants and Placement Agent Warrants contain pricing
reset mechanisms and cashless (including zero-cash) exercise features that can result in the issuance of a significantly greater number
of ADSs than the number initially issuable upon exercise.

The Series A Warrants are exercisable immediately upon issuance and
will remain exercisable for five years at an initial exercise price of $1.30 per ADS. On each of the 4th and 8th trading days following
the issuance date, the exercise price of the Series A Warrants will be adjusted downward to $0.91 and $0.65, respectively (each, a “Reset
Price”), and the number of ADSs underlying each Series A Warrant will be increased proportionally so that the aggregate proceeds
from a full cash exercise immediately prior to the applicable Reset Date would remain constant.

The Series A Warrants also provide a zero-cash exercise option, under
which a holder may elect, for no additional cash consideration, to receive a number of ADSs equal to three times the number of ADSs that
would otherwise be issuable upon a cash exercise at that time. Because a zero-cash exercise yields substantially more ADSs than a cash
exercise, we expect holders to overwhelmingly elect zero-cash exercise, and as a result, we do not expect to receive additional proceeds
from the exercise of the Series A W