Company: CHOW
Filing Date: 2025-02-28
Form Type: DRS/A
Source: 0001493152-25-008591
Chunk: 20

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-28
Form: DRS/A
Chunk 20
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 we will not be entitled to the exemptions provided in the JOBS Act discussed above. Implications of Being a Controlled Company Upon completion of this offering, Rainbow Sun Enterprises Limited will have [ ]% of the total voting power of our then outstanding Ordinary Shares, assuming the underwriters do not exercise their over-allotment option, or [ ]% of the total voting power of our then outstanding Ordinary Shares if the underwriters exercise their over-allotment option in full. As a result, we will expect to be a “controlled company” within the meaning of NYSE American Company Guide. For so long as we remain a “controlled company,” we are permitted to elect not to comply with certain corporate governance requirements, including:

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 requirement that our director nominees be selected or recommended solely by independent directors; and                           |
| ● | the                                                                                                                              
 requirement that we have a nomination committee and a compensation committee that are composed entirely of independent directors 
 with a written charter addressing the purposes and responsibilities of the committees.                                           |

If we rely on these exemptions, you will not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements. Although we currently do not intend to rely on the “controlled company” exemptions under NYSE American Company Guide even if we are deemed a controlled company, we could elect to rely on these exemptions in the future, and if so, you would not have the same protection afforded to shareholders of companies that are subject to all of the corporate governance requirements of NYSE American.

| 6 |

Implications of Being a Foreign Private Issuer Upon completion of this offering, we will report under the Exchange Act as a non-U.S. company with foreign private issuer status. Even after we no longer qualify as an emerging growth company, as long as we qualify as a foreign private issuer under the Exchange Act, we will be exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies, including:

| ● | the                                                                                                                                        
 sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered        
 under the Exchange Act;                                                                                                                    |
| ● | the                                                                                                                                        
 sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability       
 for insiders who profit from trades made in a short period of time; and                                                                    |
| ● | the                                                                                                                                        
 rules under the Exchange Act requiring the filing with the Securities and Exchange Commission of quarterly reports on Form 10-Q containing