Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 82

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 82
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 opportunity to receive
a premium for their shares as part of a sale of our company and may reduce the price of the Class A ordinary shares. This concentrated
control will limit your ability to influence corporate matters and could discourage others from pursuing any potential merger, takeover
or other change of control transactions that holders of the Class A ordinary shares may view as beneficial.

Our Amended and Restated Memorandum and
Articles of Association contain anti-takeover provisions that could have a material adverse effect on the rights of holders
of the Class A ordinary shares.

Our Amended and Restated Memorandum
and Articles of Association contain provisions which could limit the ability of others to acquire control or cause it to engage in change-of-control transactions.
These provisions could have the effect of depriving our shareholders of an opportunity to sell their shares at a premium over prevailing
market prices by discouraging third parties from seeking to obtain control of our company in a tender offer or similar transaction. Our
board of directors has the authority, without further action by our shareholders, to issue preferred shares in one or more series and
to fix their designations, powers, preferences, privileges, and relative participating, optional or special rights and the qualifications,
limitations or restrictions, including dividend rights, conversion rights, voting rights, terms of redemption and liquidation preferences,
any or all of which may be greater than the rights associated with the ordinary shares. Preferred shares could be issued quickly with
terms calculated to delay or prevent a change in control or make removal of management more difficult. If our board of directors decides
to issue preferred shares, the price of the Class A ordinary shares may fall and the voting and other rights of the holders of the Class
A ordinary shares may be materially and adversely affected.

We are a “controlled company”
under the Corporate Governance Rules of Nasdaq and can rely on exemptions from certain corporate governance requirements that could adversely
affect our public shareholders.

Mr. Leo Lu holds a majority
of the aggregate voting power of our company and, therefore, we qualify as a “controlled company” under the Corporate Governance
Rules of Nasdaq. Under these rules, a company of which more than 50% of the voting power is held by an individual, group or another company
is a controlled company and may elect not to comply with certain corporate governance requirements, including the requirement that a majority
of its directors be independent, as defined in the Corporate Governance Rules of the Nasdaq and the requirement that the compensation
committee and nominating and corporate governance committee consist