Company: OTSA
Filing Date: 2025-07-07
Form Type: F-1/A
Source: 0001213900-25-061733
Chunk: 95

Company: OTSAW Ltd
Filing Date: 2025-07-07
Form: F-1/A
Chunk 95
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 more, (iii) the date on which we have, during the preceding three -yearperiod, issued more than US$1 billion in non -convertibledebt, or (iv) the last day of our fiscal year following the fifth anniversary of the completion of this offering. Otsaw Limited is a “foreign private issuer” within the meaning of the rules under the Exchange Act. Our disclosure obligations differ from those of U.S. domestic reporting companies and are exempt from certain Nasdaq corporate governance standards applicable to U.S. issuers. As a result, you will have less protection than you would have if we were a domestic issuer. Because we qualify as a foreign private issuer under the Exchange Act, we are exempt from certain provisions of the securities rules and regulations in the United States that are applicable to U.S. domestic issuers. Under the Exchange Act, we will be subject to reporting obligations that, to some extent, are more lenient and less frequent than those of U.S. domestic reporting companies. For example, we will not be required to issue quarterly reports or proxy statements. We will not be required to disclose detailed compensation of directors and executive officers. Furthermore, our directors and executive officers will not be required to report equity holdings under Section 16 of the Exchange Act and will not be subject to the insider short -swingprofit disclosure and recovery regime. As a foreign private issuer, we will also be exempt from the requirements of Regulation FD (Fair Disclosure) which, generally, are meant to ensure that select groups of investors are not privy to specific information about an issuer before other investors. However, we will still be subject to the anti -fraudand anti -manipulationrules of the SEC, such as Rule 10b -5under the Exchange Act. Since many of the disclosure obligations imposed on us as a foreign private issuer differ from those imposed on U.S. domestic reporting companies, you should not expect to receive the same information about us and at the same time as the information provided by U.S. domestic reporting companies. Nasdaq Listing Rules requires listed companies to have, among other things, a majority of its board members be independent. As a foreign private issuer, however, we are permitted to, and we may follow home country practice in lieu of the above requirements, or we may choose to comply with the above requirement within one year of listing. The corporate governance practice in our home country, the Cayman Islands, does not require a majority of our board to consist of independent directors. Thus, although