Company: OTSA
Filing Date: 2025-01-28
Form Type: DRS
Source: 0001213900-25-007614
Chunk: 3

Company: OTSAW Ltd
Filing Date: 2025-01-28
Form: DRS
Chunk 3
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 an “emerging growth company” and a “foreign private issuer” as defined under the U.S. federal securities laws and, as such, may elect to comply with certain reduced public company reporting requirements for this and future filings. See “ Prospectus Summary — Implications of Being an Emerging Growth Company and a Foreign Private Issuer ” for additional information. We are a holding company that is incorporated in the Cayman Islands. As a holding company with no operations, we conduct our operations through our subsidiaries in Singapore. The Class A Ordinary Shares offered in this offering are shares of the holding company that is incorporated in the Cayman Islands and not ant any of our subsidiaries. Investors of our Class A Ordinary Shares should be aware that they do not directly hold equity interests in the Singaporean operating entity, but rather are purchasing equity solely in Otsaw Limited, our Cayman Islands holding company, which indirectly owns 100% equity interests in the Singaporean subsidiaries and may never directly hold equity interests in our subsidiaries.

Upon completion of this offering, our issued and outstanding shares will consist of [•] Class A Ordinary Shares and [1] Class B Ordinary Share. As of the date of this prospectus, our chief executive officer and chairman of the board of directors of the Company (the “Board”) and director, Mr. Ling Ting Ming, indirectly owns more than 50% of the voting power of our outstanding Class A Ordinary Shares and Class B Ordinary Shares. Immediately after completion of this offering, he will own approximately [•]% of our total issued and outstanding Class A Ordinary Shares and [•]% of our total issued and outstanding Class B Ordinary Shares, representing approximately [•]% of the total voting power of our shares, assuming that the underwriters do not exercise their over -allotmentoption. Therefore, we are, and will continue to be, a “controlled company” within the meaning of the Nasdaq Listing Rules 5615(c). As a result, 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