Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 271

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 19
Chunk 271
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 Agent”), pursuant to which the Company
may offer and sell, from time to time, through or to the Agent, as sales agent and/or principal (the “ Offering”) up to $30,000,000of its Class A ordinary shares (the “ Shares”). Any Shares offered and sold in the Offering will be issued pursuant to the
Company’s Registration Statement on Form F-3 (the “ Registration Statement”) filed with the Securities and Exchange Commission
(the “ SEC”) on February 23, 2021, and the sales agreement prospectus that forms a part of such Registration Statement, following
such time as the Registration Statement is declared effective by the SEC, for an aggregate offering price of up to $200million. The ATM
offering was terminated on February 13, 2023. Before terminating, the Company sold351(post-reverse stock split adjusted to58) Class
A ordinary shares through the ATM offering with net proceeds of $5,184,926, the amount was received on January 28, 2023.

Shares issued for long-term investments/acquisitions

In connection of the long-term
investment of Smartconn, on January 20, 2022, the Company issued3,571(post-reverse stock split adjusted to595) Class A ordinary shares
to the original shareholders of Smartconn as consideration of19.99% equity interest. The fair value of the shares issued amounted to
$8,305,222.

In connection of the long-term
investment of Boxinrui on June 28, 2022, the Company issued4,155(post-reverse stock split adjusted to692) Class A ordinary shares to
the original shareholders of Boxinrui as consideration of15% equity interest. The fair value of the shares issued amounted to $6,674,772.
On December 28, 2022, the Company further issued11,521(post-reverse stock split adjusted to1,920) Class A ordinary shares to the original
shareholders of Boxinrui as consideration of20% equity interest. The fair value of the shares issued amounted to $4,446,163.

In connection of the long-term
investment of Chenbao, on August 24, 2022, the Company issued1,199(post-reverse stock split adjusted to199) Class A ordinary shares
to the original shareholders of Chenbao as partial consideration of5% equity interest. The fair value of the shares issued amounted to
$1,844,377.

In