Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 5

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 5
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”) held by exiting holders of Old Foxx Common Stock (the “Old Foxx Stockholders”) immediately prior to the Closing (including shares of Old Foxx Common Stock issuable upon conversion of the principal and accrued interest of promissory notes of Old Foxx issued in certain transaction financings) were cancelled and automatically converted into (i) the right to receive, without interest, the applicable portion of 5,000,000shares of Common Stock of the Purchaser (the “Closing Payment Shares”, 500,000 of which are subject to the Escrow Arrangement (as defined herein)), and (ii) the contingent right to receive the applicable portion of the Earnout Shares (as defined herein), if, as and when payable in accordance with the earnout provisions of the Business Combination Agreement. At the Closing, the Purchaser was renamed as “Foxx Development Holdings Inc.”, which we refer as the “Company”, and the Merger Sub was renamed as “Foxx Development Inc.”, which we refer as the “Operating Subsidiary”. After the Closing, the Operating Subsidiary became the wholly -owned, Delaware -incorporatedsubsidiary of the Company. The Business Combination was consummated on September 26, 2024. The Business Combination was approved at the special meeting of ACAC’s stockholders held on August 27, 2024 (the “Special Meeting”). ACAC’s stockholders also voted to approve all other proposals presented at the Special Meeting. On September 27, 2024, one business day after the Closing, the Common Stock and the Warrants became listed on the Nasdaq Capital Market under trading symbols “FOXX” and “FOXXW,” respectively. iii MARKET AND INDUSTRY DATA Certain information contained in this document relates to or is based on studies, publications, surveys, and other data obtained from third -partysources and the Company’s own internal estimates and research. While we are not aware of any misstatements regarding such third -partyinformation and data presented in this prospectus, such information and data involves risks and uncertainties and is subject to change based on various factors, including, potentially, those discussed under the section of this prospectus entitled “ Risk Factors.” Furthermore, such information and data cannot always be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process, and other limitations and uncertainties inherent in any statistical survey. Finally, while we believe our own internal