Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 501

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 1C
Chunk 501
---
 at any given time by a warrant holder. No fractional Warrants
will be issued upon separation of the Units and only whole Warrants will trade. The Warrants will expire five years after the
completion of the Company’s initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

The
Company has agreed that as soon as practicable, but in no event later than 30 business days, after the closing of the
initial business combination, it will use its commercially reasonable efforts to file, and within 60 business days following
its initial business combination to have declared effective, a registration statement for the registration, under the Securities Act,
of the shares of common stock issuable upon exercise of the Warrants. The Company will use its commercially reasonable efforts to maintain
the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in
accordance with the provisions of the warrant agreement. No Warrants will be exercisable for cash unless the Company has an effective
and current registration statement covering the common stock issuable upon exercise of the Warrants and a current prospectus relating
to such shares of common stock. Notwithstanding the above, if the Company’s common stock is at the time of any exercise of a Warrant
not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section
18(b)(1) of the Securities Act, the Company may, at its option, require holders of Warrants who exercise their Warrants to do so on a
“cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event it so elect, it will not be required
to file or maintain in effect a registration statement, but it will be required to use its commercially reasonable efforts to register
or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

The
Company may call the Warrants for redemption, in whole and not in part, at a price of $0.01 per Warrant:

    ●
    in whole and not in part;

    ● upon not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each Warrant holder; and 

    ● if, and only if, the reported last sale price of the common stock equals or exceeds $16.50 per share (