Company: DDC
Filing Date: 2025-07-22
Form Type: F-3
Source: 0001213900-25-066338
Chunk: 16

Company: DDC Enterprise Ltd
Filing Date: 2025-07-22
Form: F-3
Chunk 16
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 D.

The Company has the right,
but not the obligation, to sell shares under the ELOC SPA, subject to customary conditions, including effectiveness of a registration
statement covering the resale of such shares. The Company expects to use the net proceeds from any sales under the ELOC SPA primarily
to acquire additional bitcoin for its corporate treasury.

The foregoing description of the ELOC SPA does
not purport to be complete and is qualified in its entirety by reference to the full text of the ELOC SPA, which is attached hereto as
Exhibit 10.3 and is incorporated herein by reference.

Registration Rights Agreement

Concurrently with the execution
of the SPA and the ELOC SPA, on June 16, 2025, the Company and the Investors also entered into a Registration Rights Agreement to register
under the Securities Act, among other things, the resale of the Shares issued pursuant to the SPA and the ELOC SPA, as well as all warrant
shares and shares issued upon conversion under the SPA, as well as any capital stock issued or issuable with respect to the foregoing
due to stock splits, dividends, recapitalizations, or similar events.

Pursuant to the Registration
Rights Agreement, the Company is required to register the resale of such securities by filing a registration statement with the SEC within
15 days of the applicable closing date and to use its reasonable best efforts to have the registration statement declared effective by
the SEC by the earlier of (i) the 45th calendar day after the closing date (or 60th day if subject to SEC full review) or (ii) the 2nd
business day after SEC notification that the registration statement will not be reviewed.

The foregoing description
of the Registration Rights Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of
the Registration Rights Agreement, which is attached hereto as Exhibit 10.4 and incorporated herein by reference.

In December 2023, the FASB
issued ASU 2023-08,“Intangibles，Goodwill
and Other-Crypto Assets (Subtopic 350-60). Accounting for and Disclosure of Crypto Assets”.
The amendments in this Update are effective for all entities for fiscal years beginning after December 15,2024, including interim periods
within those fiscal years, Early adoption is permitted for both interim and annual financial statements that have not yet been issued
(or made available for issuance). if an entity adopts the amendments in an interim