Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 270

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 19
Chunk 270
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’s Class A ordinary shares at
a share price of $6.0(post-reverse stock split adjusted to $36.0) per share. The Company issued6,523,157(post-reverse stock split adjusted
to1,087,192) Class A ordinary shares on November 24, 2023. In February 2025, the Company entered into a supplemental agreement with these
twelve investors to change the aggregate purchase amount to $3,972,600at a price of $0.609(post-reverse stock split adjusted to $3.65)
per share. As of this annual report filing date, the Company has collected approximately $3.2million.

Conversion of convertible notes

On May 25, 2022, The Company
issued an aggregate of1,235(post-reverse stock split adjusted to205) Class A ordinary shares of the Company YA. The fair value of the
conversion note was assessed at $2,261,270upon conversion based on the binomial model assessed by the independent valuation firm.

On December 12, 2022, The
Company issued an aggregate of2,913(post-reverse stock split adjusted to485) Class A ordinary shares of the Company Streeterville (Note
13). The fair value of the conversion note was assessed at $1,534,654upon conversion based on the binomial model assessed by the independent
valuation firm.

F-41

X3 HOLDINGS CO., LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 16 - Equity(continued)

On February 3, 2023, the Company
issued an aggregate of5,594(post-reverse stock split adjusted to932) Class A ordinary shares of the Company to Streeterville (Note
13). The fair value of the conversion note was assessed at $3,128,453upon conversion based on the binomial model assessed by the independent
valuation firm.

Shares issued for reserve

As of December 31, 2024, the
Company issued1,339(post-reverse stock split adjusted to223) Class A ordinary shares held in an escrow account as reserve solely for
potential stock options. As of December 31, 2024, no shares were transferred to the holders.

At the market(“ ATM”) offering

On February 23, 2021, the Company entered into a Sales Agreement (the
“ Sales Agreement”) with A. G. P./Alliance Global Partners, as sales agent (the “