Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 79

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 1
Chunk 79
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,000) and less than $84,000,000 (excluding $84,000,000); 

    ● 1,400,000 Earnout Shares would be issued to Original Foxx Shareholders on a pro rata basis if and only if the 2024 Foxx Revenue reflected in the 2024 Foxx Audited Financial Statements would be no less than $84,000,000 (including $100,000,000) and less than $100,000,000 (excluding $100,000,000); 

    ● 2,100,000 Earnout Shares would be issued to Original Foxx Shareholders on a pro rata basis if and only if the 2024 Foxx Revenue reflected in the 2024 Foxx Audited Financial Statements would be no less than $100,000,000 (including $100,000,000). 

F-18

in
connection with the financial performance for the fiscal year ended June 30, 2025:

    ● 700,000 Earnout Shares would be issued to Original Foxx Shareholders
on a pro rata basis if and only if the Company’s audited consolidated financial statements for the fiscal year ended June 30,
2025 (“2025 Foxx Audited Financial Statements”), prepared in accordance with U.S. GAAP and filed with the SEC on Form 10-K by
the Company after Closing, reflect revenue of the Company for the fiscal year ended June 30, 2025 (the “2025 Foxx Revenue”)
to be no less than $77,050,000 (including $77,050,000) and less than $96,600,000 (excluding $96,600,000); 

    ● 1,400,000 Earnout Shares would be issued to Original Foxx Shareholders on a pro rata basis if and only if the 2025 Foxx Revenue reflected in the 2025 Foxx Audited Financial Statements would be no less than $96,600,000 (including $96,600,000) and less than $115,000,000 (excluding $115,000,000); 

    ● 2,100,000 Earnout Shares would be issued to Original Foxx Shareholders on a pro rata basis if and only if the 2025 Foxx Revenue reflected in the 2025 Foxx Audited Financial Statements would be no less than $115,000,000 (including $