Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 79

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 79
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5 was approximately
US$(248) million, or US$ (0.02) per ordinary share and US$(5.61) per ADS. Dilution is determined by subtracting as adjusted net tangible
book value per ordinary share, after giving effect to the additional proceeds we will receive from this offering, from the offering price
per ordinary share. After giving effect to the issuance and sale of 9,230,750 ADSs at a price of US$1.30 per ADS and accompanying Series A Warrants to purchase 9,230,750 ADSs, and the issuance of Placement Agent Warrants to purchase 184,615 ADSs, assuming no exercise of the Series A Warrants or Placement Agent Warrants, after deducting placement agent fees and expenses and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value as of June 30, 2025 would have been approximately US$(235) million, or approximately US$(4.24)per ADS. This represents no change in net tangible book value per ADS of our existing shareholders and an immediate decrease in net tangible book value of US$(1.09)per ADS to investors participating in this offering. The following table illustrates this dilution on a per share basis:

| Assumed initial public offering price per share                                                         
 Net tangible book value per share as of June 30, 2025                                                   |     | Per      
 Ordinary 
 Share    
 US$      
 US$      |  0.005 
  (0.02 | ) |     | Per 
 ADS 
 US$ 
 US$ |  1.30 
 (5.61 | ) |
|:--------------------------------------------------------------------------------------------------------|:----|:---------|-------:|:--|:----|:----|------:|:--|
| Increase in net tangible book value per share attributable to the pro forma adjustments described above |     | US$      |  0.001 |   |     | US$ |  0.28 |   |
| Pro Forma Net tangible book value per share as of June 30, 2025                                         |     | US$      | (0.021 |   |     | US$ | (5.33 | ) |
| Dilution in net tangible book value per share attributable to new investors                             |     | US$      |  0.004 |   |     | US$ |  1.09 |   |
| Pro forma as adjusted net tangible book value per