Company: XTKG
Filing Date: 2025-07-17
Form Type: 424B5
Source: 0001213900-25-064921
Chunk: 29

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-07-17
Form: 424B5
Chunk 29
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 Shares;
(ii) the issuance of 22,325,600 (post-reverse stock split adjusted to 3,720,933) Class A Ordinary Shares for private placement of $9.6
million; (iii) the issuance of 1,200,000 (post-reverse stock split adjusted to 200,000) Class B restricted Ordinary Shares to the managements
of the Company; and (iv) receiving proceeds of $3,972,600 for the adjusted November 24, 2023 private placement, our pro
forma net tangible book value as of December 31, 2024 was US$48.4 million, or US$1.30 (post-reverse stock split adjusted US$7.80) per
Ordinary Share. After giving effect to the sale of Class A Ordinary Shares of US$25.8 million in this offering at an offering price of
US$0.43 (post-reverse stock split adjusted US$2.58) per Ordinary Share, and after deducting the estimated offering expenses payable by
us in connection with this offering, our pro forma as adjusted net tangible book value as of December 31, 2024 would have been US$74.2
million, or US$0.76 (post-reverse stock split adjusted US$4.58) per Ordinary Share. This represents an immediate decrease in net tangible
book value of US$0.54 (post-reverse stock split adjusted US$3.22) per Ordinary Share to our existing shareholders and an immediate increase
in net tangible book value of US$0.33 (post-reverse stock split adjusted US$2.00) per Ordinary Share to the investors participating in
this offering. See the section titled “Dilution” below for a more detailed illustration of the dilution you would incur as
an existing shareholder of ours as a result of this offering.

We may in the future issue
additional Class A Ordinary Shares or other securities convertible into or exchangeable for our Class A Ordinary Shares. We cannot assure
you that we will be able to sell our Class A Ordinary Shares or other securities in any other offering or other transactions at a price
per ordinary share that is equal to or greater than the price per ordinary share paid by the investors in this offering. The price per
ordinary share at which we sell additional Class A Ordinary Shares or other securities convertible into or exchangeable for our Class
A Ordinary Shares in future transactions may be higher or lower than the