Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 194

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 14
Chunk 194
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Item 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

See “ Item 10. Additional Information” for a description of the rights of securities holders, which remain unchanged.

Use of Proceeds

Registration Statement on Form F-1, as amended (File Number 333-280312)

The following “ Use of Proceeds” information relates to the registration statement on Form F-1, as amended (File Number 333-280312) for our initial public offering, which was declared effective by the SEC on December 17, 2024. On November 19, 2024, we completed our initial public offering in which we issued and sold an aggregate of 1,437,500 Class A Ordinary Shares, including 187,500 Class A Ordinary Shares sold pursuant to the full exercise of the over-allotment option granted to the underwriters in connection with the IPO, at a price of $4.00 per share for aggregate gross proceeds of approximately $5.75 million, before deducting underwriting discounts and other offering expenses.

We incurred approximately $4,100,000 in aggregate expenses in connection with our IPO, which included approximately $430,000 in underwriting discounts, approximately $390,000 in expenses paid to or for underwriters, and approximately $3,280,000 in other expenses. None of the transaction expenses included payments to directors or officers of our Company or their associates, persons owning more than 10% or more of our equity securities, or our affiliates. None of the net proceeds we received from the initial public offering were paid, directly or indirectly, to any of our directors or officers or their associates, persons owning 10% or more of our equity securities, or our affiliates.

We received net proceeds of approximately $1.65 million after the deduction of approximately $4.10 million of offering costs. As of the date of this annual report, we have used $350,000, $250,000, $200,000 and $450,000 from the net proceeds for (i) business expansion and developing new geographic markets, (ii) product research and development, (iii) team building and recruiting talents and (vi) working capital and general corporate matters, respectively. The remaining $400,000 will be set aside for general corporate purposes.

Item 15. CONTROLS AND PROCEDURES