Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 64

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 64
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-related industry;  
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  announcements by us or our competitors of new services, expansions, investments, acquisitions, strategic partnerships or joint ventures;  

  mergers or other business combinations involving us;  

  additions and departures of key personnel and senior management;  

  changes in accounting principles;  
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  the passage of legislation or other developments affecting us or our industry;  

  the trading volume of the Class A ordinary shares in the public market;  

  the release of lockup, escrow or other transfer restrictions on our outstanding equity securities or sales of additional equity securities;  

  potential litigation or regulatory investigations;  

  changes in financial estimates by research analysts;  
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  natural disasters, terrorist acts, acts of war or periods of civil unrest; and  

  the realization of some or all of the risks described in this section.  

In addition, the stock markets
have experienced significant price and trading volume fluctuations from time to time, and the market prices of equity securities of businesses
in our and certain other industries may become extremely volatile and sometimes subject to sharp price and trading volume changes. These
broad market fluctuations may materially and adversely affect the market price of the Class A ordinary shares.

The sale or availability for sale of substantial
amounts of Class A ordinary shares and/or Warrants could adversely affect their market price.

Sales of substantial amounts
of the Class A ordinary shares and/or Warrants in the public market or the perception that these sales could occur, could adversely affect
the market price of the Class A ordinary shares and Warrants and could materially impair our ability to raise capital through equity offerings
in the future. We are unable to predict the effect that such sales may have on the prevailing market price of our Class A ordinary shares
and Warrants.

In connection with the Business Combination, certain shareholders of ordinary shares of Finfront prior to the Business Combination
have agreed, subject to certain exceptions, not to sell any Class A ordinary shares for six months after the Closing. Following the expiration
of the applicable lock-up periods, such shareholders are currently not restricted from selling the Class A ordinary shares held by them,
other than by applicable securities laws. Class A ordinary shares held by the Sponsor and its affiliates may be sold in the public market
in the future subject to the restrictions in Rule 144 and Rule 701 under the Securities Act, or pursuant