Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 159

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 159
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 6, 2024, EUDA entered into a Share Purchase Agreement for the acquisition of all outstanding shares of Fortress Cove and its 100 8,571,429 15.0 1.75

EUDA
HEALTH HOLDINGS LIMITED AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

(In
U. S. dollars, unless stated otherwise)

Warrants

In
connection with the reverse recapitalization, the Company has assumed 8,917,250 8,625,000 292,250

Warrants
became exercisable on the later of (a) the completion of the reverse recapitalization or (b) 12 months from the closing of the initial
public offering (“ IPO”). The warrants will expire five years

As
of December 31, 2024, the Company had 8,625,000 292,250 11.50

The
Company may redeem the Public Warrants and Private Warrants in whole and not in part, at a price of $ 0.01

●
at any time while the warrants are exercisable and prior to their expiration,

●
upon not less than 30 days’ prior written notice of redemption to each warrant holder,

●
if, and only if, the reported last sale price of the ordinary shares equals or exceeds $ 16.50

●
if, there is a current registration statement in effect with respect to the Ordinary Shares underlying the Warrants for each day in the
30-day trading period and continuing each day thereafter until the Redemption Date or the cashless exercise of the Warrants is exempt
from the registration requirements under the Securities Act of 1933, as amended (the “ Act”)

If
the Company calls the warrants for redemption as described above, management will have the option to require all holders that wish to
exercise the warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number
of ordinary shares issuable upon exercise of the warrants may be adjusted for splits, dividends, recapitalizations and other similar
events. Additionally, in no event will the Company be required to net cash settle the warrants.

The
only difference between Public Warrants and Private Warrants is that the Private Warrants will not be transferable, assignable or salable
until after the completion of reverse recapitalization.

The
summary of warrants activity is as follows:

Schedule
of warrant activities