Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 68

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 68
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,” meaning the exercise price is higher than the market price of our Common Stock, the holders of the Warrants are not likely to exercise them. In considering our capital requirements and sources of liquidity, we have not relied on the receipt of proceeds from the exercise of the Warrants. 35 DETERMINATION OF OFFERING PRICE The offering price of the shares of Common Stock underlying the Warrants offered hereby is determined by reference to the exercise price of the Warrants of $11.50 per share. 36 MARKET INFORMATION FOR SECURITIES AND DIVIDEND POLICY Market Information The Common Stock and Warrants are currently listed on Nasdaq under the symbols “FOXX” and “FOXXW”, respectively. On [ ], 2025, there were approximately [] holders of record of our Common Stock and [] holders of record of our Warrants. Dividend Policy We have never declared or paid any dividends on shares of Common Stock. We anticipate that we will retain all of our future earnings, if any, for use in the operation and expansion of our business and do not anticipate paying cash dividends in the foreseeable future. Any decision to declare and pay dividends in the future will depend on, among other things, the consent of our lender(s), our results of operations, cash requirements, financial condition, contractual restrictions and other factors that our board of directors may deem relevant. 37 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS You should read the following discussion and analysis of our financial condition and results of operations in conjunction with our consolidated financial statements and the related notes included elsewhere in this prospectus. This discussion contains forward -looking statements that involve risks and uncertainties about our business and operations. Our actual results and the timing of selected events may differ materially from those anticipated in these forward -looking statements as a result of various factors, including those we describe under “Risk Factors” and elsewhere in this prospectus. Overview Foxx Development Holdings Inc. ( “we,” “our”, “us”, or the “Company”) was incorporated on November 13, 2023 under the name “Acri Capital Merger Sub I Inc.” On September26, 2024 (the “Closing”), Acri Capital Acquisition Corporation, a Delaware corporation and our parent company at the time, (“ACAC”) consummated a previously announced business combination pursuant to the terms of the business combination agreement, dated February 18, 2024 (as amended on May31, 2024, collectively, the