Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 163

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 163
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,710,288 |   |
| Less: non-cash net deficit assumed from ACAC                                      |     |               | (21,810,926 | ) |
| Net distributions from issuance of Common Stock upon the Reverse Recapitalization |     | $             |  (2,100,638 | ) |

The shares and corresponding capital amounts and all per share data related to Old Foxx’s outstanding common stock prior to the Reverse Recapitalization have been retroactively adjusted using the Exchange Ratio of 3.3033.

F-17

FOXX DEVELOPMENT HOLDINGS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 5 — Accounts receivable As of September 30, 2024 and June 30, 2024, accounts receivable consist of the following:

|                                   |     |   | September 30, 
          2024 |     |          | June 30, 
     2024 |
|:----------------------------------|:----|:--|--------------:|:----|:---------|---------:|
|                                   |     |   |               |     | -Audited |          |
| Accounts receivable               |     | $ |    12,371,365 |     | $        |  251,894 |
| Less: allowance for credit losses |     |   |             — |     |          |        — |
| Accounts receivable, net          |     | $ |    12,371,365 |     | $        |  251,894 |

Note 6 — Inventories As of September 30, 2024 and June 30, 2024, inventories consist of the following:

|                   |     |   | September 30, 
          2024 |     |          |  June 30, 
      2024 |
|:------------------|:----|:--|--------------:|:----|:---------|----------:|
|                   |     |   |               |     | -Audited |           |
| Finished goods    |     | $ |     4,540,549 |     | $        | 1,768,072 |
| Total inventories |     | $ |     4,540,549 |     | $        | 1,768,072 |

Note 7 — Contract assets As of September 30, 2024 and June 30, 2024, the contract asset