Company: OWLS
Filing Date: 2025-09-19
Form Type: F-1/A
Source: 0001193125-25-208098
Chunk: 105

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-19
Form: F-1/A
Chunk 105
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 affect our business. We conduct business in Taiwan through our subsidiaries, OBOOK Inc., OWLSTAY Inc., OWLTING Travel Service Inc. and PayNow Inc. As of December 31, 2024, over 99% of our revenue came from Taiwan. Our office and substantially all of our assets are located in Taiwan. Accordingly, our business, financial condition and results of operation may be affected by potential economic, social and/or geopolitical issues in or affecting Taiwan which are outside of our control. Taiwan has a unique international political status. Although Taiwan and the PRC have established significant economic and cultural relationships in recent years, the PRC government asserts sovereignty over the PRC and Taiwan, does not recognize the legitimacy of the government of Taiwan, and has refused to renounce the possibility of using force at some point to gain control over Taiwan. Sanctions against Taiwanese entities or persons, and military blockage or actions from the PRC, may significantly harm Taiwan’s economy. The financial markets have viewed certain past developments between Taiwan and the PRC as occasions to depress general market prices of the securities of Taiwanese or Taiwan-related companies. Any cross-straits tension may negatively impact the local economic and political environment, which could in turn materially and adversely affect our business, financial condition and results of operations. Risks Related to the Class A Common Shares Our listing differs significantly from an underwritten initial public offering; the impact of awareness of our brand and consumer and investor recognition of our Company on the demand for our Class A Common Shares is unpredictable and our marketing and brand development efforts may not be successful. There have been few companies that have undertaken a direct listing such as our listing to date and there are many uncertainties associated with such type of listing. This is not an underwritten initial public offering of our Class A Common Shares. This listing of our Class A Common Shares on Nasdaq differs from an underwritten initial public offering in several significant ways, which include, but are not limited to, the following:

| • |     | There are no underwriters conducting an underwritten initial public offering. Consequently, prior to the opening 
 of trading on Nasdaq, there will be no traditional book building process and no price at which                   |

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| underwriters initially sold shares to the public to help inform efficient and sufficient price discovery with respect to the opening trades on Nasdaq. Therefore, buy and sell orders submitted                                                          
 prior to and at the opening of trading of our Class A Common Shares on Nasdaq will not have the benefit of being informed