Company: XTKG
Filing Date: 2025-06-04
Form Type: 424B5
Source: 0001213900-25-051196
Chunk: 27

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-06-04
Form: 424B5
Chunk 27
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Securities analysts may not cover our Class A Ordinary Shares and this may have a negative impact on the market price of our Class A Ordinary Shares.

The trading market for our
Class A Ordinary Shares will depend, in part, on the research and reports that securities or industry analysts publish about us or our
business. We do not have any control over independent analysts (provided that we have engaged various non-independent analysts). We do
not currently have and may never obtain research coverage by independent securities and industry analysts. If no independent securities
or industry analysts commence coverage of us, the trading price for our Class A Ordinary Shares would be negatively impacted. If we obtain
independent securities or industry analyst coverage and if one or more of the analysts who covers us downgrades our Class A Ordinary Shares,
changes their opinion of our shares or publishes inaccurate or unfavorable research about our business, the price of our Class A Ordinary
Shares would likely decline. If one or more of these analysts ceases coverage of us or fails to publish reports on us regularly, demand
for our Class A Ordinary Shares could decrease and we could lose visibility in the financial markets, which could cause the price and
trading volume of our Class A Ordinary Shares to decline.

<div align='center'>S-14</div>

Our existing shareholders will experience immediate dilution as a result of this offering and may experience future dilution as a result of future equity offerings or other equity issuances.

We believe that our existing
shareholders will experience an immediate dilution relative to net tangible book value per ordinary share as a result of this offering.
Our net tangible book value as of December 31, 2024 was US$34.9 million, or US$2.53 (post-reverse stock split adjusted US$15.20) per
Ordinary Share. After giving effect to the sale of Class A Ordinary Shares of US$9.6 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 as adjusted net tangible book value as of December 31, 2024 would have been US$44.5 million,
or US$1.23 (post-reverse stock split adjusted US$7.40) per Ordinary Share. This represents an immediate decrease in net tangible book
value of US$1.31 (post-reverse stock split adjusted US$7