Company: AGCC
Filing Date: 2025-09-04
Form Type: F-1/A
Source: 0001213900-25-084516
Chunk: 59

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-09-04
Form: F-1/A
Chunk 59
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. We are a “controlled company” within the meaning of the Nasdaq listing rules, and may follow certain exemptions from certain corporate governance requirements that could adversely affect our public shareholders. Following this offering of our Class A Ordinary Shares, our Controlling Shareholders through Ping Shiang Business Ltd will continue to own more than a majority of the voting power of our outstanding Ordinary Shares. Under the Nasdaq listing rules, a company of which more than 50% of the voting power is held by an individual, group, or another company is a “controlled company” and is permitted to phase in its compliance with the independent committee requirements. As a “controlled company,” we are permitted to elect not to comply with certain corporate governance requirements. Currently, we do not plan to utilize the exemptions available for controlled company after we complete this offering but may rely on the exemption available for foreign private issuers to follow our home country governance practices instead. Although we do not intend to rely on the “controlled company” exemptions under the Nasdaq listing rules even if we are deemed a “controlled company”, we could elect to rely on these exemptions in the future. If we were to elect to rely on the “controlled company” exemptions, a majority of the members of our board of directors might not be independent directors and our nominating and corporate governance and compensation committees might not consist entirely of independent directors. Accordingly, if we rely on the exemptions, during the period we remain a “controlled company” and during any transition period following a time when we are no longer a “controlled company”, you would not have the same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. 35 Our dual-class voting structure will limit your ability to influence corporate matters and could discourage others from pursuing any change of control transactions that holders of our Class A Ordinary Shares may view as beneficial. We have a dual -classvoting structure consisting of Class A Ordinary Shares and Class B Ordinary Shares. Based on our dual -classvoting structure, holders of Class A Ordinary Shares will be entitled to one (1) vote per share in respect of matters requiring the votes of shareholders, while holders of Class B Ordinary Shares will be entitled to ten (10) votes per share. Our Controlling Shareholders, through Ping Shiang Business Ltd beneficially own 14,500,000 Class A Ordinary Shares, approximately 81.17% of our outstanding Class A Ordinary Shares and 14,500,000 Class B Ordinary Shares, representing 97.93%,