Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 49

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 49
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an inadvertent investment company, we may seek to rely on Rule 3a-2 under the Investment Company Act, which allows an inadvertent
investment company a grace period of one year from the earlier of (a) the date on which the issuer owns securities and/or cash having
a value exceeding 50% of the issuer’s total assets on either a consolidated or unconsolidated basis or (b) the date on which
the issuer owns or proposes to acquire investment securities having a value exceeding 40% of the value of such issuer’s total assets
(exclusive of U. S. government securities and cash items) on an unconsolidated basis. We intend to adopt policies that we expect will
work to keep our investment securities held at less than 40% of our total assets, which may include acquiring assets with our cash, liquidating
our investment securities or seeking no-action relief or exemptive relief from the SEC if it is unable to acquire sufficient assets
or liquidate sufficient investment securities in a timely manner. As Rule 3a-2 is available to an issuer no more than once every
three years, and assuming no other exclusion were available to it, it would have to keep within the 40% limit for at least three years
after it ceases being an inadvertent investment company. This may limit our ability to make certain investments or enter into joint ventures
that could otherwise have a positive impact on our earnings. In any event, we do not intend to become an investment company engaged in
the business of investing and trading securities.

Finally, we believe we are
not an investment company under Section 3(b)(1) of the Investment Company Act because we are primarily engaged in a non-investment company
business.

The Investment Company Act
and the rules thereunder contain detailed parameters for the organization and operations of investment companies. Among other things,
the Investment Company Act and the rules thereunder limit or prohibit transactions with affiliates, impose limitations on the issuance
of debt and equity securities, prohibit the issuance of stock options, and impose certain governance requirements. We intend to continue
to conduct our operations so that we will not be deemed to be an investment company under the Investment Company Act. However, if anything
were to happen that would cause we to be deemed to be an investment company under the Investment Company Act, requirements imposed by
the Investment Company Act, including limitations on our capital structure, ability to transact business with affiliates and ability to
compensate key employees,