Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 86

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 4
Chunk 86
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 number of Class A ordinary
shares; (ii) all ordinary shares of Finfront held by Chipring Technology Limited were cancelled in exchange for 135,000,000 Class B ordinary
shares of the Company, par value US$0.0001 per share; and (iii) the one share of Merger Sub issued and outstanding immediately prior to
the Effective Time was converted into and became one ordinary share of Finfront.

Additional Agreements in connection with the
Business Combination

PIPE Subscription Agreements

In connection with the Business
Combination, Finfront and Arisz obtained commitments from interested accredited investors to purchase Class A ordinary shares issued in
connection with the Closing, for an aggregate cash amount of $74,000,000 at a purchase price of $10.00 per share, in a private placement.
Such commitments are being made by way of the subscription agreements (the “ PIPE Subscription Agreements”), by and among each
Subscriber, Finfront and Arisz. The terms of the PIPE Shares are identical to those of the Class A ordinary shares issued to existing
public stockholders of Arisz at the time of the Closing, except that the PIPE Shares were not entitled to any redemption rights and were
not registered under the Securities Act at the time of issuance.

Pursuant to the PIPE Subscription
Agreements, we agreed to file (at our sole cost and expense) a registration statement registering the resale of the shares to be purchased
in the private placement (the “ PIPE Resale Registration Statement”) with the SEC (i) no later than thirty (30) calendar days
following the Closing assuming no additional financial statements are required or desirable to be included at the time of such filing)
or (ii) ninety (90) calendar days following the Closing (assuming additional financial statements are required or desirable
to be included at the time of such filing). We will use our commercially reasonable efforts to have the PIPE Resale Registration Statement
declared effective as soon as practical but no later than the earlier of (i) the 120thcalendar day following the
filing date thereof (in the event the SEC notifies us that it will “review” the PIPE Resale Registration Statement) and (ii) the
10thbusiness day after the date we are notified by the SEC that the PIPE Resale Registration Statement will not be “reviewed”
or will not be subject to further review. For details of the PIPE Subscription Agreement, see Exhibit 4.21 to this Report.

On January 11, 202