Company: OTSA
Filing Date: 2025-06-09
Form Type: F-1
Source: 0001213900-25-052720
Chunk: 102

Company: OTSAW Ltd
Filing Date: 2025-06-09
Form: F-1
Chunk 102
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 Shares outstanding. After giving effect to the sale of [•] Class A Ordinary Shares in this offering at the assumed initial public offering price of $[•] per Class A Ordinary Share and after deducting the underwriting discounts and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value on October31, 2024 would have been $[•], or $[•] per Class A Ordinary Share. This represents an immediate increase in pro forma as adjusted net tangible book value of $[•] per Class A Ordinary Share to existing investors and immediate dilution of $[•] per Class A Ordinary Share to new investors. The following table illustrates this dilution to new investors purchasing Class A Ordinary Shares in this offering: The following table sets forth the estimated net tangible book value per ordinary share after the offering and the dilution to persons purchasing Class A Ordinary Shares based on the foregoing firm commitment offering assumptions.

| Assumed offering price per Class A Ordinary Share                                                                                                                     
 Net tangible book value per Class A Ordinary Share as of October 31, 2024                                                                                             |     | Offering       
 Without        
 Over-Allotment | [•] 
 [•] |     | Offering       
 With           
 Over-Allotment | [•] 
 [•] |
|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:---------------|:----|:----|:---------------|:----|
| Increase in pro forma as adjusted net tangible book value per Class A Ordinary Share attributable to new investors purchasing Class A Ordinary Share in this offering |     | $              | [•] |     | $              | [•] |
| Pro forma as adjusted net tangible book value per Class A Ordinary Share after this offering                                                                          |     | $              | [•] |     | $              | [•] |
| Dilution per Class A Ordinary Share to new investors in this offering                                                                                                 |     | $              | [•] |     | $              | [•] |

Each $1.00 increase (decrease) in the assumed initial public offering price of $[•] per Class A Ordinary Share would increase (decrease) our pro forma as adjusted net tangible book value as of October31, 2024 after this offering by approximately $[•] per Class A Ordinary Share, and would increase (decrease) dilution to new investors by $[•] per ordinary share, assuming that the number of Class A Ordinary Shares offered by us, as set forth on the cover page of