EX-1.1 2 ex1-1.htm

 

展品 1.1

 

SAG 控股有限公司

 

875,000 普通股份

 

承銷協議

 

Wilson-Davis & Co., Inc.

 

作爲在附表 I 上列名的若干承銷商的代表

 

236 南主街

鹽湖城,猶他州84101

 

2024年10月22日

 

女士們,先生們:

 

SAG 控股有限公司,根據開曼群島法律設立的一家豁免公司(以下簡稱“公司”),同意根據本協議的條款和條件(以下簡稱“協議”),向附表I所列的承銷商發行並賣出票據的購買金額全部協議稱爲「」。承壓商)交易代表的威爾遜-戴維斯公司(以下簡稱“代表人”) 一共875,000股普通股(以下簡稱“公司 股份”或“公司股份”),每股面值爲US$0.0005,屬於該公司的股份(以下簡稱“普通股”).

 

定義

 

附屬公司“ 在證券法第405條中所規定的含義。

 

適用時間「首次」表示承銷商首次銷售股票。

 

真正的電子路演『發過電子路演的』 代表公司已向任何人以 『圖形方式』 無限制提供了《證券法》第433(h)(5)條下定義的『真實電子路演』(定義見《證券法》第405條下的『圖形方式』)

 

業務 日“交易所開放交易,並且紐約的銀行營業並非法律或行政命令允許關閉的日子。

 

代碼「」指1986年修訂版的國內收入法規。

 

委員會:” 表示美國證券交易所。

 

公司 股票計劃”表示公司及其子公司的任何基於股票的補償計劃。

 

 
 

 

新興增長企業「」表示一家「新興增長公司」(如證券法第2(a)節定義的)。

 

環保法律「法律」指的是任何政府當局的法律、規章、條例、規則、命令、裁決、法令、許可或其他法定要求,包括但不限於任何國際、外國、國家、州、省、區域或地方當局與污染、保護人類健康或安全、環境或自然資源、危險或有毒物質或廢物、污染物或污染物的使用、處理、儲存、製造、運輸、處理、排放、處置或釋放有關的法律要求。

 

交易所”表示納斯達克資本市場。

 

證券交易法「1934證券交易法」,經修訂的法律,及其頒佈的規定。

 

最終招股說明書「」指的是根據《證券法》424(b)條規定並在規定的時間限制內首次提交給委員會的招股說明書。

 

FINRA” 表示金融業監管局

 

免費寫作意向書根據證券法規定405所述的含義

 

通用會計原則(GAAP)” 意味着美國普遍接受的會計原則。

 

投資公司法案「」指1940年修訂後的《投資公司法案》,以及其中制定的規定和法規。

 

發行人 自由撰寫招股說明書「」指的是《證券法》規則433(h)(1)下定義的「發行人免費書面招股說明書」。

 

初步招股書“"表示在委員會宣佈註冊聲明生效前包含在註冊聲明中的任何初步招股說明書。

 

定價披露包「」指定價格說明書,連同文件和定價信息 附表 II 現有信貸協議第10.14條的規定已經納入本協議並適用於本協議。

 

定價 招股說明書「」指的是委員會宣佈註冊聲明生效時包含在註冊聲明中的初步招股說明書。

 

招股期「」指基金股首次公開發行的日期之後,根據承銷商的律師的意見,就股票相關的招股說明書根據法律要求交付(或者除了《證券法》第172條規定外需要交付)以便與承銷商或任何經銷商的股票銷售相關。

 

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蘋果公司CEO庫克大規模拋售股票,套現逾3億港元,資金已存入上市公司設立的專項帳戶(「信託帳戶」),以公共股東(定義詳見下文)爲受益人的註冊聲明(FORM S-1)中所規定的一定金額及特定款項。信託帳戶中持有的基金類型(包括資金持有的利息)除支付公司稅費以外,一旦實現以下最早的情況之一即可支取: (i) 完成首次(業務)組合;(ii) 如果公司未能在2025年3月3日之前完成首次(業務)組合,則可以贖回100%的發行股份(如下所述);或 (iii) 股東表決贖回發行股份。 若要批准修訂本Amended and Restated Certificate,必須就修訂對決定最早如下情形之一的公司的義務以在首次業務組合中允許贖回或未在終止日期之前完成首次業務組合即贖回100%的發行股份產生影響或涉及股東權益或首次業務組合前的活動(如第9.7節所述),對修訂進行表決。發售期(「發售期」)所出售單位的組成部分的Common Stock股份的持有人(「發售股份」),不論這些發售股份是在發售期內還是在發售市場上的二級市場中購買,也不論這些持有人是公司的發起人,高管或董事,或上述任何關聯方的子公司,均在此被稱爲「公共股東」。” 表示:(a)根據美國證券法的註冊聲明,即F-1表格(文件號碼333-267771),包括一份招股說明書,在美國證券交易委員會宣佈其生效時修訂的註冊出售股份,包括各項陳述、財務報表和附表;(b)任何430A規則信息;以及(c)任何462(b)規則註冊聲明。

 

規則 430A信息「」指的是根據《證券法》第430A條規定,被視爲註冊聲明在委員會宣佈註冊聲明生效時的一部分。

 

規則 462(b)註冊聲明「」意味着依據《證券法》第462(b)條規定註冊的用於註冊額外普通股發行和銷售的簡明註冊聲明。

 

2002年的薩班斯-奧克斯利法「」 指的是2002年修正後的薩班斯-豪利法案及其頒佈的規則和法規。

 

證券法「」表示1933年修訂版證券法,以及在此之下制定的規則和法規。

 

1. 公司的陳述和擔保.

 

公司特此向承銷商陳述並保證,並同意:

 

(a) 註冊聲明書.

 

(i)公司已準備並根據證券法向委員會提交了註冊聲明。 委員會已經根據證券法宣佈註冊聲明生效,截至本協議日期,公司尚未提交對註冊聲明的後續修訂。 委員會尚未發佈暫停註冊聲明生效的任何命令,也沒有發佈任何阻止或暫停使用註冊聲明、最終招股說明書、任何初步招股說明書或任何發行人自由書面招股說明書的命令,也沒有根據證券法第8A條對此類目的訴訟已經被提起,正在委員會之前進行,或者據公司所知,受到委員會的威脅。

 

(ii)在生效時,註冊聲明中不包含任何不實陳述,任何事後生效修訂案在其生效日期,不包含任何不實陳述或遺漏了應在其中陳述或需要使其中的陳述不誤導的重大事實;前提是公司不就依賴於根據主承銷商書面向公司提供的有關信息製作並符合註冊聲明(包括任何事後生效修訂案)、定價披露文件、最終招股說明書(包括任何修訂或補充)或任何發行人自由撰寫招股說明書而作出任何聲明或保證,應理解並同意,主承銷商提供的唯一信息是明確在中指定的信息。 配售單位發行人免費書面招股說明。 沒有發行人免費書面招股說明與註冊聲明或招股書中包含的信息發生衝突或將會發生衝突,還包括在任何書面材料之前或其他預備材料當中的任何情況,未被取代或修改。公司必須遵照1933年法案和1933年法律法規的要求在提交文書給委員會時提交任何公司免費書面招股說明”).

 

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(iii) 每一個註冊聲明以及任何事後生效的修正,自其生效時起直至本日期,都在所有重大方面符合《證券法》。

 

(b) 定價披露包定價披露文件,截至適用時間,未包含任何不實陳述重大事實或遺漏重大事實,以使其中的陳述在作出時的情況下不具誤導性;截至收盤日期(如下定義),也不會。 在每種情況下,該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時; 公司聲明,關於根據《承銷商信息》所作的陳述或遺漏,本公司不作任何陳述或保證。

 

(c) 最終招股說明書.

 

(i) 最終招股說明書及其任何修正或補充內容截至其日期、根據證券法規424(b)條提交給委員會的時間、截至發行日,將不包含任何實質性陳述不實或遺漏必要實質性陳述的重要事實,以使其中的陳述在作出時的情況下不會誤導;不過,公司對依賴於承銷商信息並符合其信息的任何聲明或遺漏不作陳述或保證。

 

(ii) 每份最終招股說明書及其任何修訂版或補充資料,在根據證券法案規定的第424(b)條提交給委員會時,在截止日期時,將在所有重大方面與證券法案相符。

 

(d) 初步 招股說明書.

 

(i) 每份初步招股說明書,在根據《證券法》第424(a)條規定提交給委員會時,不含任何不實之陳述或遺漏必要的重要事實,以使其陳述在作出時的情況下不會產生誤導; 在每種情況下,該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時; 公司未對根據承銷商信息依賴並符合要求而作出的任何聲明或遺漏作出任何陳述或保證。

 

(ii) 每份初步招股說明書,在根據證券法規424(a)規定提交給委員會時,符合證券法的所有實質性方面。

 

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(e) 發行人自由寫作招股書.

 

(i) 每份發行人自由書面意向書,在與附送的或在交付該自由書面意向書之前交付的初步招股意向書一起考慮時,截至該自由書面意向書日期,以及截至截止日期時,不包含任何虛假陳述或遺漏關鍵事實,以使其中陳述在其作出時的情況下不會誤導; 在每種情況下,該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時; 公司聲明,關於根據《承銷商信息》所作的陳述或遺漏,本公司不作任何陳述或保證。

 

(ii) 每份發行人自由書面招股說明書,在提交給委員會時,已或將在所有重大方面遵守《證券法》。

 

(iii) 公司已經或將會在證券法規定的時限內,根據證券法規定的第433條(d)條款,提交或將提交給委員會任何根據證券法第433條(d)條款規定需要提交的任何自由書面招股說明書。公司已提供任何依照證券法第433條(d)(8)(ii)條款的規定而使用的真實電子路演,以便符合證券法第433條(d)(8)(ii)條款,無需就股票發售進行任何「路演」(如證券法第433(h)條款所定義)(路演與股票發行相關的「路演」(如證券法第433(h)條款所定義)不需要提交。

 

(iv) 除非本股票發行者司出具的自由撰寫招股說明書(如果有),否則本公司尚未使用過,也未授權使用,也未提及或參與策劃使用,並且未經代表事先同意,本公司將不會使用,也未授權使用,也不會提及或參與策劃使用任何自由撰寫招股說明書。 附表II 在此和電子路演(如有)除外,每份在首次使用前提供給代表的發行方自由撰寫招股說明書,本公司尚未使用、授權使用、參考或參與策劃使用,並且未經代表事先同意,本公司將不使用、授權使用、提及或參與策劃使用任何自由撰寫招股說明書。

 

(f) 其他披露材料除註冊聲明、定價披露文件、最終招股說明書、每份初步招股說明書和本處所示的發行人自由書面說明書外,公司(包括其代理人和代表,但不包括承銷商,對承銷商不作任何陳述或擔保)未直接或間接分發、準備、使用、授權、批准或參考,並且不會分發、準備、使用、授權、批准或參考任何與股份發行和銷售有關的募集材料。 附表II 公司(包括其代理人和代表,但不包括承銷商,對承銷商不作任何陳述或擔保)在此未直接或間接分發、準備、使用、授權、批准或參考過任何發售股份相關的募集材料,並且不會在此後分發、準備、使用、授權、批准或參考。

 

(g) 不合格 發行人和外國私人發行人在提交註冊聲明及其任何修訂版本的時間點和至今, 公司(i)既不是也不是《證券法》第405條規定的「不合格發行人」,(ii)既是又是(x)《證券法》第405條規定的「外國私人發行人」,(y)有資格使用證監會採納的F-1表格註冊股票的發行和銷售。

 

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(h) 新興增長企業從提交與股票相關的註冊聲明的初始機密時間到至今,公司一直是一家新興成長型公司。

 

(i) 應有授權公司有充分的權利、權力和權限來執行和交付本協議,並履行其在此項下的義務;並且已經就本協議的授權、執行和交付所需的一切行動進行了適當和有效的授權。.

 

(j) 承銷協議本協議已由公司適當授權、簽署和交付,並在其他方適當授權、簽署和交付的前提下,構成公司的有效和具有法律約束力的協議,根據其條款可強制執行,但(i)此處的強制執行可能受到破產、無力償付、欺詐轉讓、重整、停止支付或其他類似影響債權人權利和救濟的法律的限制,或者受到一般平等原則(無論是在法律訴訟還是在衡平訴訟中考慮)的影響,(ii)根據適用法律和公共政策考慮,本協議不承擔賠償和分擔責任的權利可能受到限制,(iii)其他由開曼群島法律意見所載明的情況除外。

 

(k) 沒有出現重大不利變化除非在註冊聲明,定價披露包和最終招股說明書中另有披露(在每種情況下不包括任何修訂或補充),自注冊聲明、定價披露包和最終招股說明書所包含的最新財務報表之日起,對於公司及其子公司作爲一個實體進行考慮,自注冊聲明、定價披露包和最終招股說明書以來:(i)公司及其子公司作爲一個實體,其財務狀況、收入、業務、財產、管理、財務狀況、股東權益、經營結果或前景,不論是否由業務常規交易引起,均沒有重大不利變化或可能導致重大不利變化的發展;(ii)公司或其子公司的股本沒有變化或短期債務或長期債務發生重大變化,作爲一個實體進行考慮;(iii)公司及其子公司作爲一個實體,不承擔任何重大債務或義務,不管是間接的、直接的還是附帶的(不論是否屬於業務常規);也未進行任何對公司及其子公司作爲一個實體重要的交易或協議(不論是否屬於業務常規);以及(iv)公司或其子公司,除了向公司或公司的其他子公司支付的股息外,對公司或其子公司的任何股類宣佈、留存待支付、支付或發出任何形式的分紅或分配;或公司或其子公司對任何股類進行回購或贖回。

 

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(l) 公司已合法成立,並依所在法域的法律爲合法存在的公司;公司具備擁有其財產和經營其所描述的業務的公司表決或有權的權力,並有能力根據披露材料和招股說明書中所述合法地履行其在本協議、證券契約和債券中的義務;公司已依所在地當局要求辦理合法資格並在每個必要的業務所在地保持良好的經營。如果未取得資格或未保持良好的狀態會對公司及其子公司作爲一個整體的致命突擊影響(稱爲「重大逆境影響」),則除此之外該項要求的缺乏資格或不良狀態不管是由日常業務還是其他任何事項引起的。每個公司子公司已在所在業務所在地依法成立或組織起來,並且在所在業務所在地合法存在作爲公司或有限責任公司,具有根據披露材料和招股說明書所描述的權力和能力擁有其財產並描述其業務;每個公司子公司已在其營業所在地獲取必要資格並保持良好的經營以依法存在,除非不符合資格或缺乏資格,這將不會讓公司及其子公司以一個整體受到重大逆境影響(稱爲「重大不利影響」)。公司沒有未出現在年度報告10-K的附件21中列出的子公司,在提交該附件時,該附件中的孫公司必須在上面列出,除非不列出不會對公司是一個整體的財務、業務、財產、操作或前景,不管是由日常業務還是其他任何事項引起的,造成重大逆境影響。公司及其各附屬公司已依法成立並存續有效,在各自設立地的法律下具有良好地位(或同等地位),已依法取得業務資格並且在其所擁有或租賃財產或其所從事業務所要求的各個司法管轄區內具有良好地位(或同等地位),並且擁有一切必要的權力與權限(無論是公司或其他)來擁有、租賃或持有其各自的財產,並從事在註冊聲明書、定價披露文件和最終招股說明書中描述的業務,除非其未保持良好地位、未具備相關資格或未具備此類權力或權限,可能無論個別或合計而言,合理預期會對公司及其附屬公司的狀況(財務或其他方面)、收入、業務、財產、管理、財務狀況、股東權益、運營結果或前景造成重大不利影響,視爲一個實體來考慮,或對公司根據本協議履行其義務產生不利影響(以下簡稱“"}Material Adverse Effect”).

 

(m) 資本化 . 公司的資本化如註冊聲明書、定價披露文件和最終招股說明書中所述 在「股本及負債」欄下列明。公司的所有已發行股份已獲得審慎授權 並已有效發行,且已全部支付且不可要求進一步付款。認購基金份額已獲得審慎授權,並且在 根據本文所載,發行和按照預期支付後,將得到有效發行,全部支付且不得要求進一步支付的(本文中使用該術語是指 發行者不需要支付任何額外金額)。公司的所有已發行股份中沒有 違反任何優先認購權、優先購買權或其他類似權利的發行 公司證券。除註冊聲明書、定價披露文件和最終招股說明書中披露的內容外,沒有 經授權或已發行的期權、認購證、優先認購權、優先購買權或其他權利 用於獲取或購買公司 的任何股份。除註冊聲明書、定價披露文件和最終招股說明書中披露的內容外,沒有 任何公司子公司的股份或其他權益(i)已經獲得審慎授權 並有效發行,(ii)已全部支付且不得要求進一步支付,以及(iii)由公司 直接或通過公司的 子公司擁有,沒有任何抵押、質押、留置、債權、擔保、限制投票的 或轉讓的限制,除非在註冊聲明書、定價披露文件和最終招股說明書中另有披露。除外 註冊聲明書、定價披露文件和最終招股說明書中另有披露,沒有轉讓的限制 對開曼群島、新加坡或美利堅合衆國的普通股法律規定。

 

(n) 無 違規或違約公司或其任何子公司均不:(i) 違反其公司章程和章程、憲章、章程或類似組織文件;(ii) 不履行其備忘錄和章程、憲章、章程或類似組織文件中包含的任何條款、契約、條件或其他義務,也未發生任何可能構成此類違約的事件,需經過通知、等待一段時間或兩者結合;(iii) 違反適用於公司或其任何子公司的任何法律或法規或適用於公司或其任何子公司或有管轄權的任何法院、仲裁員或政府或監管機構的任何判決、命令、規則或規例或適用於其各自財產或資產的法律規定,除非(A) 在以上第(i)款中,對於並不重大影響公司及其全部子公司經營的子公司的任何違反,和(B) 在以上第(ii)和(iii)款中,對於任何單獨或全部違約或違反,在單獨或全部情況下,對公司或其任何子公司的財產或資產產生重大不利影響,

 

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(o) 沒有衝突公司執行、交付和履行本協議,發行、銷售和交付穩定股份,按照《使用收益》中所述的募集所得款項的用途,註冊聲明書、定價披露文件和最終招股說明書,或者完成本協議所示交易不會導致:(x)違反公司或其子公司的備忘錄、章程、公司章程、章程或類似組織文件的條款或規定;(y)與公司或其子公司訂立的任何抵押品、抵押品、信託契約、貸款協議、票據協議、合同、承諾或其他協議、義務、條件、契約或工具有關的任何條款或規定衝突,導致違約或違反,或要求股東、成員或合作伙伴的批准,或任何人一致同意或同意,以及任何抵押品、權利或資產要麼是公司的,要麼是其子公司的負擔或財產,根據公司或其子公司是當事方或其子公司受約束的其他協議,義務,條件,契約或工具或參與的任何抵押品、權利或資產受其約束;或(z)違反適用於公司或其子公司的法律、法規、判決、命令、規則、法令或法規的限制或法規——有管轄權的法院、仲裁員、政府或監管機構或有管轄權的機構或機構對公司或其子公司或各自的財產或資產不會導致違法的處分。 ,除非涉及(y)和(z)事項,有關衝突,違反,違反或違約無法單獨或總體產生根本不利影響。

 

(p) 無需徵得同意 所需的同意、批准、授權、訂購、登記或符合公司所管轄的任何法院、仲裁員或任何政府或監管機構的資格,以履行並履行本協議,以及公司根據本協議擬定發行和出售的配售股,僅適用於適用州證券法律或金融行業監管局規章或公司章程和規則規定的可能需要的同意、批准、授權、訂購和登記或符合要求,與代理人出售配售股有關。沒有必須獲得或與任何法院、仲裁員、政府或監管機構、機構或團體就本協議公司的簽署、交付和履行;發行、出售和交付公司股票;或本協議所規定的交易的完成所需的同意、批准、授權、命令、備案、登記、許可或資格,除非(w)已獲得或已獲得並仍然有效,(x)可能需要FINRA批准,(y)可能根據新加坡或開曼群島法律要求,以及(z)可能根據適用州證券法要求與承銷商購買、分銷和轉售公司股票。

 

(q) 獨立會計師基本報表的審計評價是由審計聯盟有限責任合夥公司發表的,該公司是根據委員會和公開公司會計監督委員會的規定以及證券法的要求,對包括註冊聲明、定價披露文件和最終招股說明書中的基本報表(該術語包括相關附註)進行審計的獨立註冊的上市會計師事務所。

 

8
 

 

(r) 基本報表和其他財務數據基本報表(包括相關附註)已納入註冊聲明、定價披露文件和最終招股說明書,符合證券法適用要求,如所指示的日期列示出相關實體的合併財務狀況,並以公允方式呈現它們的經營業績和現金流量指定期間內的情況。這些財務報表和附註已按照在涉及期間內一貫應用的準則編制,但除附註中可能明確說明的情況外。在註冊聲明、定價披露文件和最終招股說明書中列示的「摘要合併財務及其他數據」和「資本結構和負債」下的財務數據,以與註冊聲明、定價披露文件和最終招股說明書中包含的審計財務報表一致的基礎公允呈現所載信息。註冊聲明、定價披露文件和最終招股說明書中包含的假設財務信息公允呈現所載信息並已按照證券法及委員會規則和指引編制;其制定假設是合理的,並在每份註冊聲明、定價披露文件和最終招股說明書中列明;相關的假設調整是合適的,以實施所用制定假設和相應交易和情況中提到的內容。

 

(s) 統計和市場相關數據註冊聲明、定價披露文件和最終招股說明書中包含的統計和市場相關數據基於或源自公司認爲在所有重大方面準確可靠的來源。

 

(t) 前瞻性聲明未在註冊聲明、定價披露文件或最終招股說明書中包含或重申沒有合理依據的前瞻性聲明(根據《證券法》第27A條和《交易所法》第21E條的定義),也沒有不誠實地披露。

 

(u) 法律訴訟. (i)除了在註冊聲明文件、定價披露文件和最終招股說明書中載明的內容外,不存在任何針對公司或其任何子公司的法律、政府或監管調查、訴訟、索賠、仲裁、詢問或訴訟(統稱爲「」)未決事項,或者任何公司或其任何子公司的財產、權利或資產可能成爲對象,如果裁定對公司或其任何子公司造成不利影響,可能產生重大不利影響;並且(ii)據公司了解,沒有任何政府或監管機構或其他人士威脅或擬議採取此類行動。操作子.)如果沒有在註冊聲明、成價披露方案和最終招股說明書中規定的,公司或其任意子公司正在進行或可能成爲一方的法律、政府或監管調查、行動、要求、索賠、訴訟、仲裁、詢問或程序(統稱「」);而且如果對公司或其任意子公司作出不利決定,可能產生重大不利影響;而且公司知道,沒有任何政府或監管機構或其他人士威脅或考慮採取上述行動。

 

(v) 勞工爭議公司或其任何子公司的員工沒有勞動糾紛,也沒有公司知曉的即將或擬議的勞動糾紛可能單獨或合計對公司造成重大不利影響。

 

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(w) 知識產權(i)公司及其子公司擁有或有權使用所有專利、專利申請、商標、服務商標、商業名稱和其他來源指標及其註冊和申請註冊、域名註冊、版權及其註冊和申請註冊、技術和專業技能、商業祕密和所有其他知識產權和相關專有權利(統稱“)所需以開展各自業務;(ii)公司或其任何子公司均未收到任何有關知識產權侵權、侵佔或其他與其他人知識產權有衝突的通知(並且公司或其任何子公司沒有發現任何侵權、侵佔或其他衝突),除了不會造成重大不利影響的侵權、侵佔或其他衝突;(iii)據公司所知,公司及其子公司的知識產權未被任何人侵犯、侵佔或其他方式違反。指公司的專利、專利申請、商標、商標申請、服務標誌、商號、商業祕密、發明、版權、許可證和其他知識產權和類似權利。所]]。

 

(x) 許可證 和許可證。(i) 公司及其子公司擁有此類有效和有效的證書、授權、批准和許可證 和許可證(統稱,”授權”) 由發佈並作了所有聲明、修正、補充和 向相應的州、聯邦或外國監管機構或機構申報,以擁有、租賃和運營各自的監管機構或機構 財產並按照註冊聲明、定價披露一攬子計劃中的規定開展各自的業務;以及 最終招股說明書;(ii) 所有此類授權均有效且完全有效,公司及其子公司已生效 遵守所有此類授權的條款和條件;以及 (iii) 公司及其任何子公司均未收到 關於任何此類授權的任何撤銷、終止、修改或不遵守的通知,或有任何理由相信 任何此類授權都不會在正常過程中續期,除非就第 (i)、(ii) 和 (iii) 條而言, 不擁有, 簽發或獲得此類授權 (通過持有, 申報或備案) 不會單獨或總體而言, 產生重大不利影響。

 

(y) 產權標題公司及其子公司均不擁有任何不動產。公司及其子公司對所有屬其業務範圍內的個人財產(除知識產權一事,在第1(w)部分中有專門處理)擁有清晰、有效的所有權或獲得租賃或其他使用的有效和可執行權利,且所有該財產不受到任何留置權、負擔、索賠、瑕疵和瑕疵的損害,除了以下的情況:(i)如在註冊聲明書、定價披露文件和最終招股說明書中已披露的留置權、負擔、索賠、瑕疵和瑕疵,或(ii)不是實財產價值及不實質地干擾公司及其子公司使用或擬用該財產的情況。

 

(z) 稅收公司及其子公司已通過截至目前爲止應當提交的聯邦、州、地方和外國稅務申報表,或已準時請求延期提交,並已支付所需繳納的所有稅款(除了目前正在依照GAAP或IFRS所需的進行善意爭議及已在公司基本報表中設立準備金的稅項)。公司基本報表所述的與所得稅和其他稅項責任有關的費用、應計費用和準備金已充分,並根據GAAP的要求足以滿足公司在財務報表中所指的最後期間內應當暫記的任何稅款。

 

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(dd)無 印花稅或交易稅。公司將股票出售、轉讓或交付給承銷商的,由承銷商或代表承銷商支付的印花稅、登記稅、發行稅或其他轉讓稅或稅款均不適用;承銷商將股票按照本協議約定的方式出售、轉讓或交付給初始購買者的,或者本協議的簽訂、執行和履行過程中無需支付。

 

(bb) 子計劃是指經董事會或委員會通過,旨在允許或促進向根據任何非美國司法管轄區的法律組建、或在美國以外、或在美國以外司法管轄區組建的某些指定子公司的僱員發佈獎勵的任何子計劃,每個這樣的子計劃均旨在符合該外國司法管轄區的適用法律。儘管爲了符合適用法律,任何子計劃都可以被指定爲從計劃中分離且獨立的計劃,但計劃股票儲備和計劃第4條中指定的其他限制條款將總體適用於計劃和任何此處通過的子計劃。被動外國投資公司根據註冊聲明、定價披露文件和最終招股說明書中規定的條件、限制、例外和假定,公司預計在當前納稅年度及可預見的未來不會成爲一家被動外國投資公司(根據法典第1297條的定義)。

 

(cc) 投資公司法案。公司及其任何子公司在進行股份的發行和出售以及根據註冊聲明中"資金用途"部分,價格披露文件和最終招股說明書所述的款項運用後,都不需要註冊爲「投資公司」(如《投資公司法》中定義的)。

 

(ee) 本公司不會直接或間接地將募集所得用於借出、貸出、爲任何子公司或任何合併關聯實體、合資企業夥伴或任何其他個人提供保證,資助或其他方式提供資助保險其及其子公司通過認可、財務穩健的機構投保了足額的金額,有適當的免賠額,並覆蓋了足夠的損失和風險,這對於各自業務的開展和各自財產價值來說是足夠的,也是對從事類似行業業務的公司來說是謹慎和慣常的。公司及其子公司的所有保險單、按金或保證保單均有效;公司及其子公司在所有重大方面均遵守此類保單的條款;公司或其任何子公司沒有收到來自任何保險人或其代理人的通知,要求進行資本改進或其他支出以繼續保險;公司或其任何子公司沒有被任何尋求或申請的保險公司拒絕提供保險。公司或其任何子公司在任何保單下沒有索賠,任何保險人拒絕承擔責任或以保留權利條款進行辯護;公司或其任何子公司沒有理由相信其將無法在其現有的保險期到期時續保現有保險,或者無法從類似保險人處獲得類似保險,這與需要繼續經營業務而造成的成本不會產生重大不利影響。

 

(gg) 遵守薩班斯·奧克斯利法案2002年的合規性。除公司、其子公司和合並關聯實體外,據公司所知,任何公司董事、高級職員、僱員或聯繫人,任何授權代表公司行事的其他人,均沒有直接或間接、知情或者不知情地向薩班斯·奧克斯利法案的任何規定的接收方支付或承諾支付任何錢款、禮品或者類似的好處(在日常商業中向客戶提供合法的價格優惠除外),特別是向其顧客、供應商、顧客或供應商的代理人或在國內或外國的任何政府機構或儀器、政治黨派或候選人或爲公司的業務提供幫助或妨礙的人或其他任何可能使公司在民事、刑事或政府訴訟或程序中遭受任何損失或罰款的人支付任何費用。不進行穩定或操縱。公司、其關聯公司或代表其或代表任何人(除承銷商外,不作任何陳述或保證)未直接或間接採取任何旨在或構成或可合理預期導致穩定或操縱公司任何證券價格的行動。

 

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(ff) 涉外腐敗行爲法。公司、其子公司和合並關聯實體及據公司所知的公司的任何董事、高級職員、僱員或附屬公司或管理公司授權執行業務的任何其他人,均沒有直接或間接地向任何客戶、供應商、員工或客戶或供應商的代理人或政府機構或政治黨派或任何政府(國內或國外)或候選人或在業務中可能幫助或阻礙公司(或就任何實際或擬議交易協助公司)的任何人支付或同意支付任何金錢、禮品或類似的好處,不包括在日常商業上向客戶提供合法的價格優惠,這可能會使公司在民事、刑事或政府訴訟或程序中承擔任何損害或罰款。符合薩班斯-豪利法案要求公司及公司的董事長和董事,就其職責而言,一直以來一直遵守了薩班尼斯-豪利法案的所有適用規定。

 

(gg) 會計 控件公司及其子公司維護符合交易所法案要求的「財務報告內部控制」系統(如《證券交易法》第13a-15(f)條規定),該系統由公司首席執行官和首席財務官或履行類似職能的人員設計或監督,旨在合乎GAAP要求爲外部目的準備財務報告並提供合理保證。公司及其子公司維護內部會計控制足以提供合理保證,即(i)交易按照管理的一般或具體授權執行;(ii)交易記錄必要以符合GAAP準備財務報表並維護資產問責;(iii)只有按照管理的一般或具體授權才允許接觸資產;(iv)資產的記錄問責與現有資產定期間隔進行比較,並針對任何差異采取適當行動。公司的財務報告內部控制有效(須明確理解,截至日期,公司不需要遵守《薩班斯-奧克斯利法案》第404條規定),公司不知悉任何財務報告內部控制的重大缺陷(無論是否已糾正)。自《註冊聲明》、《定價披露書》和《最終招股說明書》載入最近資產負債表之日起,公司的核數師和公司董事會審計委員會尚未被告知(A)公司及其子公司內部控制設計或運作中存在可能對公司記錄、處理、彙總和報告財務數據造成不利影響的重大不足或重大缺陷;或(B)涉及公司或其子公司內部控制的管理人員或其他員工的任何欺詐行爲,無論是否重大;且(y)自《註冊聲明》、《定價披露書》和《最終招股說明書》提供信息的各自日期以來,公司或其子公司的財務報告內部控制未出現重大變化或其他可能顯著影響此類財務報告內部控制的因素,包括針對重大不足或重大缺陷的糾正措施。

 

(hh)信息披露控制和程序本公司及其子公司已建立並維護披露控制和程序(如《交易所法》第13a-15(e)條規定的定義)旨在符合《交易所法》要求; 這些披露控制和程序旨在確保公司及其子公司提交的報告中所要披露的信息按照委員會的規則和表格中規定的時間錄入、處理、彙總和報告,包括設計旨在確保累積和及時傳達此信息給公司管理層以便及時做出披露決定的控制和程序; 並且這些披露控制和程序能夠有效地執行其建立的功能。

 

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(ii) 按金 規則。公司發行、出售和交付公司股票,以及公司依照註冊聲明、定價披露文件和最終招股說明書所述的用途,均不會違反聯儲局理事會的T、U或X條例,或該理事會的任何其他法規。

 

(jj)遵守環境法律法規。除招股說明書和披露檔中披露的情況外,公司及其子公司(i)遵守任何和所有適用於人類健康和安全、環境或有害或有毒物質或廢物、污染物或污染物(「環境法規」)的外國、聯邦、州和地方法律和法規;(ii)已獲得了所有其在適用的環境法規下從事其各自業務所需的許可證、許可證或其他批准;(iii)已遵守所有該等許可證、許可證或批准的條款和條件,除非該等不遵守環境法律法規、未獲得所需的許可證、許可證或其他批准,或未遵守該等許可證、許可證或批准的條款和條件將不會單獨或總體上導致任何重大不利影響。(i) 公司或其任何子公司未知有正在進行或已知擬提起的有關環保法律(如下所定義)的訴訟,其除外,相信不會被處以100,000美元或更多的金錢制裁;(ii) 公司或其任何子公司均不知悉與環保法律合規有關的問題,包括任何有關環保法律的進行中或擬議的法規,或根據環保法律或涉及有害或有毒物質或廢物、污染物或污染物的其他義務,可能合理預期會對公司及其子公司的資本支出、收入或競爭地位產生重大影響的情形;且(iii)公司或其任何子公司均不預期與環保法律直接相關的重大資本支出。

 

(kk)ERISA .

 

公司或其「控制集團」的任何成員可能承擔任何責任(每個)符合所有適用法規,包括《僱員退休安全法》和法典第414條的規定的「僱員福利計劃」(根據1974年修訂版(「」)的第3條的含義,「」)的形式,而且一直以來已經根據其條款和包括《僱員退休安全法》和法典的所有適用法律、法規的要求進行了維護和管理,同時實質性地符合其條款和包括《僱員退休安全法》和法典的所有適用法律、法規的要求;(ii)就每個受《僱員退休安全法》第四章或第302條或第412條和第430條法典約束的計劃而言,(A)未發生或合理預期會發生任何「應報告事項」(根據《僱員退休安全法》第4043條(c)的含義),(B)未發生或合理預期會發生不符合最低資金標準的情況(根據《僱員退休安全法》第302條或第412條和第430條法典的含義),不論是否獲得豁免,(C)每個計劃資產的公允市場價值(不包括爲此目的而應計但未支付的捐款)超過了根據用於資助該計劃的假設確定的所有已計算受益的現值,並且(D)公司或其控制集團的任何成員無需爲某個計劃(包括根據《僱員退休安全法》第4001(a)(3)條的定義的「多僱主計劃」)承擔或合理預期將承擔《僱員退休安全法》第四章下的任何責任(不包括向該計劃的捐款或向養老金保險公司支付保費的情況);(iii)每個旨在符合法典第401(a)條資格的計劃都確實已符合資格,且未發生任何事宜或未能採取行動,導致失去該資格;以及(iv)關於任何計劃,不存在違反《僱員退休安全法》第406條或法典第4975條的禁止交易,不包括適用於法定或行政禁止交易豁免的交易。ERISA 公司或其「控制集團」的任何成員可能承擔任何責任(每個)符合所有適用法規,包括《僱員退休安全法》和法典第414條的規定的「僱員福利計劃」(根據1974年修訂版(「」)的第3條的含義,「」)401(k)計劃的僱主貢獻確實已符合資格,且未發生任何事宜或未能採取行動,導致失去該資格

 

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(ll)關聯交易除了在註冊聲明、定價披露文件和最終招股說明書中披露的內容外,在公司或其任何子公司與董事、高管、股東、其他關聯公司、客戶或供應商等之間不存在任何直接或間接的關係,這種關係會被證券法要求在註冊聲明、定價披露文件和最終招股說明書中進行描述。

 

(mm) 不 非法捐款或其他付款。既不是公司,也不是其任何子公司,據公司所知,也不是任何 董事、高級職員、代理人、員工、關聯公司或其他與公司或其任何子公司有關聯或代表其行事的人員 (i) 將任何公司資金用於任何非法捐款、饋贈、招待或其他與政治活動有關的非法開支; (ii) 向任何外國或國內政府或監管官員或僱員支付了任何直接或間接的非法款項;(iii) 已支付 任何賄賂、回扣、報酬、影響力支付、回扣或其他非法付款;或 (iv) 違反或違反任何條款 (w) 經修訂的1977年《反海外腐敗法》及其相關細則和條例(”FCPA”), (x) 實施經合組織《禁止在國際上賄賂外國公職人員公約》的任何適用法律或法規 商業交易,(y) 英國《2010年反賄賂法》,或 (z) 任何非美國的反賄賂或反腐敗法規,或 監管。公司及其子公司已制定、維護和執行旨在促進和 確保遵守所有適用的反賄賂和反腐敗法律。

 

(nn) 合規性 有反洗錢法。公司及其子公司的運營一直是合規的 符合所有適用的財務記錄保存和報告要求,包括貨幣和國外交易報告的要求 經修訂的1970年法案,適用於公司或其任何子公司所在司法管轄區的任何其他適用的反洗錢法規 開展業務,根據這些規則和條例以及發佈、管理的任何相關或類似的規則、條例或準則 或由任何政府機構強制執行(統稱爲”反洗錢法”);沒有訴訟、訴訟或訴訟 由任何法院或政府機構、當局或機構或任何涉及公司或其任何子公司的仲裁員審理或在任何仲裁員面前 《反洗錢法》尚待遵守,或據公司所知,受到威脅。

 

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(oo) Compliance with OFAC. Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee or Affiliate of the Company or any of its subsidiaries is an individual or entity (a “Company OFAC Person”), or is owned or controlled by a Company OFAC Person, that is currently the subject or target of any sanctions administered or enforced by the U.S. government (including, without limitation, the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”) or the U.S. Department of State and including, without limitation, the designation as a “specially designated national” or “blocked person”), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”), nor is the Company or any of its subsidiaries located, organized or resident in a country or territory that is the subject or the target of Sanctions, including, without limitation, Crimea, Cuba, Iran, North Korea, Russia and Syria (each, a “Sanctioned Country”); and the Company will not directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Company OFAC Person (i) to fund or facilitate any activities of or business with any Company OFAC Person that, at the time of such funding or facilitation, is the subject or the target of Sanctions, (ii) to fund or facilitate any activities or business in any Sanctioned Country in violation of Sanctions or (iii) in any other manner that will result in a violation by any Company OFAC Person (including any Company OFAC Person participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions. Since the Company’s inception, the Company and its subsidiaries have not knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any Company OFAC Person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned Country in violation of Sanctions.

 

(pp) No Registration Rights. There are no contracts, agreements or understandings between the Company or any of its subsidiaries, on the one hand, and any person, on the other hand, granting such person any rights to require the Company or any of its subsidiaries to file a registration statement under the Securities Act with respect to any securities of the Company or any of its subsidiaries owned or to be owned by such person or to require the Company or any of its subsidiaries to include such securities in any securities to be registered pursuant to any registration statement to be filed by the Company or any of its subsidiaries under the Securities Act.

 

(qq) Disclosure; Accurate Summaries. The statements set forth in each of the Registration Statement, the Pricing Disclosure Package and the Final Prospectus under the captions “Related Party Transactions,” “Shares Eligible for Future Sale,” “Description of Share Capital,” “Material Tax Considerations,” “Underwriting,” “Regulatory Environment” and “Certain Cayman Islands Company Considerations,” insofar as they purport to summarize the provisions of the laws, agreements and documents referred to therein, are accurate summaries of such laws, agreements, documents or proceedings. The Ordinary Shares (including the Shares) conforms in all material respects to the description thereof contained in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus.

 

(rr) Subsidiaries. The Company does not own or control, directly or indirectly, any corporation, association or other entity other than the subsidiaries listed in Exhibit 21.1 to the Registration Statement.

 

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(ss) No Restrictions on Subsidiaries. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiary’s shares or similar ownership interest, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company, except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus.

 

(tt) No Broker’s Fees. Neither the Company nor any of its subsidiaries is a party to any contract, agreement or understanding with any person (other than this Agreement) that would give rise to a valid claim against any of them or the Underwriters for a brokerage commission, finder’s fee or like payment in connection with the offering and sale of the Firm Shares.

 

(uu) Exchange Listing. Subject to notice of issuance, the Shares have been approved for listing on the Exchange.

 

(vv) Proceedings to Enforce Agreement. The choice of New York law as the governing law of this Agreement is a valid choice of law and would be recognized and given effect to in any action brought before a court of competent jurisdiction in the Cayman Islands, except for those laws (a) which such court considers to be procedural in nature, (b) which are revenue or penal laws or (c) the application of which would be inconsistent with public policy, as such term is interpreted under the laws of the Cayman Islands. The courts of the Cayman Islands would recognize as a valid judgment, a final and conclusive judgment in personam obtained in the United States District Court for the Southern District of New York (the “New York Courts”) against the Company based upon this Agreement expressed to be governed by New York law under which a sum of money is payable (other than a sum of money payable in respect of multiple damages, taxes or other charges of a like nature or in respect of a fine or other penalty) or, in certain circumstances, an in personam judgment for non-monetary relief, and would give a judgment based thereon provided that (a) such courts had proper jurisdiction over the parties subject to such judgment; (b) such courts did not contravene the rules of natural justice of the Cayman Islands; (c) such judgment was not obtained by fraud; (d) the enforcement of the judgment would not be contrary to the public policy of the Cayman Islands; (e) no new admissible evidence relevant to the action is submitted prior to the rendering of the judgment by the courts of the Cayman Islands; and (f) there is due compliance with the correct procedures under the laws of the Cayman Islands.

 

(ww) Exchange Controls. The Company has the ability to lawfully pay solely and exclusively in US dollars any amounts which are, or may become, payable by it to the Underwriters under this Agreement.

 

(xx) Merger or Consolidation; Other Offerings. Except as disclosed in the Registration Statement, neither the Company nor any of its subsidiaries is a party to any memorandum of understanding, letter of intent, definitive agreement or similar agreement with respect to a merger or consolidation or an acquisition or disposition of assets, technologies, business units or businesses. Except as disclosed in the Registration Statement the Company has not sold, issued or distributed any securities during the six-month period preceding the date hereof, including any sales pursuant to Rule 144A under, or Regulation D or Regulation S of, the Securities Act, other than securities issued pursuant to employee benefit plans, qualified stock option plans or other employee compensation plans or pursuant to outstanding options, rights or warrants.

 

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(yy) IT Systems and Data. There has been no security breach or attack or other compromise of or relating to any of the Company’s and its subsidiaries’ information technology and computer systems, networks, hardware, software, data (including the data of their respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of them), equipment or technology (“IT Systems and Data”), except where such security breach, attack or other compromise would not, individually or in the aggregate, have a Material Adverse Effect, and the Company and its subsidiaries have not been notified of, and have no knowledge of any event or condition that would reasonably be expected to result in, any material security breach, attack or compromise to their IT Systems and Data. The Company has implemented, and requires that its third party vendors implement, adequate policies and commercially reasonable security regarding the collection, use, disclosure, retention, processing, transfer, confidentiality, integrity, and availability of personal data, and business proprietary or sensitive information, in its possession, custody, or control, or held or processed on its behalf and The Company and its subsidiaries have complied, and are presently in compliance with, all applicable laws, statutes or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority and all internal policies and contractual obligations relating to the privacy and security of IT Systems and Data, except where such noncompliance with such laws, statutes, judgment, order, rule or regulations or internal policies or contractual obligations would not, individually or in the aggregate, have a Material Adverse Effect.

 

Any certificate signed by an officer of the Company and delivered to the Underwriters or to counsel for the Underwriters shall be deemed to be a representation and warranty by the Company to the Underwriters as to the matters set forth therein.

 

2. [Reserved.]

 

3. Purchase and Resale.

 

(a) Agreements to Sell and Purchase. On the basis of the representations, warranties and covenants herein,

 

(i) The Company agrees to allot, issue and sell the Firm Shares to the Underwriters;

 

(ii) The Underwriters agree to purchase from the Company all of the Firm Shares, subject to such adjustments the Underwriters in their sole discretion shall make to eliminate any sales or purchases of fractional Shares.

 

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(iii) The purchase price per Firm Share to be paid by the Underwriters to the Company shall be $8.00 per Firm Share (the “Purchase Price”).

 

(iv) Payment for the Firm Shares (the “Firm Shares Payment”) shall be made by wire transfer in immediately available funds to the accounts specified by the Company to the Representative at 12:00 p.m. Eastern Time on October 24, 2024 (the “Closing Date”). The Firm Shares Payment shall be made against delivery of the Firm Shares to be purchased on the Closing Date to the Underwriters for the accounts of the Underwriters, with any transfer taxes, stamp duties and other similar taxes payable in connection with the sale of the Firm Shares duly paid by the Company. Delivery of the Firm Shares shall be made through the facilities of DTC, unless the Representative shall otherwise instruct.

 

(b) Public Offering. The Company understands that the Underwriters intend to make a public offering of the Shares as soon after the effectiveness of this Agreement as in the judgment of the Underwriters is advisable, and initially to offer the Shares on the terms set forth in the Final Prospectus. The Company acknowledges and agree that the Underwriters may offer and sell Shares to or through any Affiliate of the Underwriters.

 

4. Covenants of the Company. The Company hereby covenants and agrees with the Underwriters as follows:

 

(a) Filings with the Commission. The Company will:

 

(i) prepare and file the Final Prospectus (in a form approved by the Representative and containing the Rule 430A Information) with the Commission in accordance with and within the time periods specified by Rules 424(b) and 430A under the Securities Act;

 

(ii) file any Issuer Free Writing Prospectus with the Commission to the extent required by Rule 433 under the Securities Act; and

 

(iii) file with the Commission such reports as may be required by Rule 463 under the Securities Act.

 

(b) Notice to the Representative. The Company will advise the Representative promptly, and confirm such advice in writing:

 

(i) when the Registration Statement has become effective;

 

(ii) when the Final Prospectus has been filed with the Commission;

 

(iii) when any amendment to the Registration Statement has been filed or becomes effective;

 

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(iv) when any Rule 462(b) Registration Statement has been filed with the Commission;

 

(v) when any supplement to the Final Prospectus, any Issuer Free Writing Prospectus or any amendment to the Final Prospectus has been filed or distributed;

 

(vi) of (x) any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Final Prospectus, (y) the receipt of any comments from the Commission relating to the Registration Statement or (z) any other request by the Commission for any additional information;

 

(vii) of (x) the issuance by the Commission of any order suspending the effectiveness of the Registration Statement or preventing or suspending the use of the Registration Statement, the Pricing Disclosure Package, the Final Prospectus, any Preliminary Prospectus or any Issuer Free Writing Prospectus or (y) the initiation or, to the knowledge of the Company, threatening of any proceeding for that purpose or pursuant to Section 8A of the Securities Act;

 

(viii) of the occurrence of any event or development within the Prospectus Delivery Period as a result of which, the Final Prospectus, the Pricing Disclosure Package or any Issuer Free Writing Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Final Prospectus, the Pricing Disclosure Package or any such Issuer Free Writing Prospectus is delivered to a purchaser, not misleading;

 

(ix) of the issuance by any governmental or regulatory authority or any order preventing or suspending the use of any of the Registration Statement, the Pricing Disclosure Package, the Final Prospectus, any Preliminary Prospectus or any Issuer Free Writing Prospectus or the initiation or threatening for that purpose; and

 

(x) of the receipt by the Company of any notice with respect to any suspension of the qualification of the Shares for offer and sale in any jurisdiction or the initiation or, to the knowledge of the Company, threatening of any proceeding for such purpose.

 

(c) Orders and Notices. The Company will use its best efforts to prevent the issuance of any order or notice described in Sections 4(b)(vii), ‎4(b)(ix) or ‎4(b)(x); and, if any such order or notice is issued, will obtain as soon as possible the withdrawal thereof.

 

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(d) Ongoing Compliance.

 

(i) If during the Prospectus Delivery Period:

 

(A) any event or development shall occur or condition shall exist as a result of which the Final Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Final Prospectus is delivered to a purchaser, not misleading, the Company will, as soon as reasonably possible, notify the Representative thereof and forthwith prepare and, subject to Section 4(e) hereof, file with the Commission and furnish, at its own expense, to the Underwriters and to such dealers as the Representative may designate such amendments or supplements to the Final Prospectus as may be necessary so that the statements in the Final Prospectus as so amended or supplemented will not, in the light of the circumstances existing when the Final Prospectus is delivered to a purchaser, be misleading; or

 

(B) it is necessary to amend or supplement the Final Prospectus to comply with applicable law, the Company will, as soon as reasonably possible, notify the Representative thereof and forthwith prepare and, subject to Section 4(e) hereof, file with the Commission and furnish, at its own expense, to the Underwriters and to such dealers as the Representative may designate such amendments or supplements to the Final Prospectus as may be necessary so that the Final Prospectus will comply with applicable law; and

 

(ii) if at any time prior to the Closing Date:

 

(A) any event or development shall occur or condition shall exist as a result of which the Pricing Disclosure Package as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Pricing Disclosure Package is delivered to a purchaser, not misleading, the Company will immediately notify the Representative thereof and forthwith prepare and, subject to Section 4(e) hereof, file with the Commission (to the extent required) and furnish, at its own expense, to the Underwriters and to such dealers as the Representative may designate such amendments or supplements to the Pricing Disclosure Package as may be necessary so that the statements in the Pricing Disclosure Package as so amended or supplemented will not, in the light of the circumstances existing when the Pricing Disclosure Package is delivered to a purchaser, be misleading; or

 

(B) it is necessary to amend or supplement the Pricing Disclosure Package to comply with applicable law, the Company will immediately notify the Representative thereof and forthwith prepare and, subject to Section 4(e) hereof, file with the Commission (to the extent required) and furnish, at its own expense, to the Underwriters and to such dealers as the Representative may designate such amendments or supplements to the Pricing Disclosure Package as may be necessary so that the Pricing Disclosure Package will comply with applicable law.

 

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(e) Amendments, Supplements and Issuer Free Writing Prospectuses. Before (i) using, authorizing, approving, referring to, distributing or filing any Issuer Free Writing Prospectus, (ii) filing (x) any Rule 462(b) Registration Statement or (y) any amendment or supplement to the Registration Statement or the Final Prospectus, or (iii) distributing any amendment or supplement to the Pricing Disclosure Package or the Final Prospectus, the Company will furnish to the Underwriters and counsel for the Underwriters a copy of the proposed Issuer Free Writing Prospectus, Rule 462(b) Registration Statement or other amendment or supplement for review and will not use, authorize, refer to, distribute or file any such Issuer Free Writing Prospectus or Rule 462(b) Registration Statement, or file or distribute any such proposed amendment or supplement (A) to which the Representative objects in a timely manner and (B) which is not in compliance with the Securities Act. The Company will, pursuant to reasonable procedures developed in good faith, retain copies of each Issuer Free Writing Prospectus that is not filed with the Commission in accordance with Rule 433 under the Securities Act.

 

(f) Delivery of Copies. The Company will, upon request of the Representative, deliver, without charge, (i) to the Representative, three signed copies of the Registration Statement as originally filed and each amendment thereto, in each case, including all exhibits and consents filed therewith; and (ii) during the Prospectus Delivery Period, as many copies of the Final Prospectus (including all amendments and supplements thereto and each Issuer Free Writing Prospectus) as the Underwriter may reasonably request.

 

(g) Emerging Growth Company Status. The Company will promptly notify the Representative if the Company ceases to be an Emerging Growth Company at any time prior to the later of (i) completion of the distribution of the Shares within the meaning of the Securities Act and (ii) completion of the Lock-Up Period (as defined below).

 

(h) Blue Sky Compliance. The Company will use its best efforts, with the Representative’s cooperation, if necessary, to qualify or register (or to obtain exemptions from qualifying or registering) the Shares for offer and sale under the securities or Blue Sky laws of such jurisdictions as the Representative shall reasonably request and will use its reasonable best efforts, with the Representative’s cooperation, if necessary, to continue such qualifications, registrations and exemptions in effect so long as required for the distribution of the Shares; provided that the Company shall not be required to (i) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any general consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject.

 

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(i) Earning Statement. The Company will make generally available to its security holders and the Representative as soon as practicable an earning statement that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 under the Securities Act covering a period of at least 12 months beginning with the first fiscal quarter of the Company occurring after the “effective date” (as defined in Rule 158 under the Securities Act) of the Registration Statement; provided that the Company will be deemed to have furnished such statement to its security holders and the Representative to the extent it is filed on the Commission’s Electronic Data Gathering, Analysis and Retrieval system (“EDGAR”).

 

(j) Use of Proceeds. The Company shall apply the net proceeds from the sale of the Firm Shares in the manner described under the caption “Use of Proceeds” in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus.

 

(k) Clear Market.

 

(i) For a period of 180 days after the date of the Final Prospectus (the “Lock-Up Period”), the Company will not (x) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, or file with the Commission a registration statement under the Securities Act relating to, any Ordinary Shares or any securities convertible into or exercisable or exchangeable for Ordinary Shares, or publicly disclose the intention to make any offer, sale, pledge, disposition or filing, or (y) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Ordinary Shares or any such other securities, whether any such transaction described in clause (x) or (y) above is to be settled by delivery of Ordinary Shares or such other securities, in cash or otherwise, without the prior written consent of the Representative.

 

(ii) The restrictions contained in Section 4(k)(i) hereof shall not apply to: (A) the Shares, (B) any Ordinary Shares issued under Company Stock Plans or warrants issued by the Company, in each case, described as outstanding in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus, (C) any options and other awards granted under a Company Stock Plan or Ordinary Shares issued pursuant to an employee stock purchase plan, in each case, as described in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus, (D) the filing by the Company of any registration statement on Form S-8 or a successor form thereto relating to a Company Stock Plan or employee stock purchase plan described in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus and (E) Ordinary Shares or other securities issued in connection with a transaction with an unaffiliated third party that includes a bona fide commercial relationship (including joint ventures, marketing or distribution arrangements, collaboration agreements or intellectual property license agreements) or any acquisition of assets or acquisition of not less than a majority or controlling portion of the equity of another entity; provided that (x) the aggregate number of Ordinary Shares issued pursuant to clause (E) shall not exceed five percent (5%) of the total number of outstanding Ordinary Shares immediately following the issuance and sale of the Firm Shares pursuant hereto and (y) the recipient of any such Ordinary Shares or other securities issued or granted pursuant to clauses (B), (C) and (E) during the Lock-Up Period shall enter into an agreement substantially in the form of Exhibit A hereto.

 

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(iii) If the Representative, in its sole discretion, agrees to release or waive the restrictions set forth in any Lock-Up Agreement (as defined below) and provides the Company with notice of the impending release or waiver substantially in the form of Exhibit B hereto at least three business days before the effective date of the release or waiver, then the Company agrees to announce the impending release or waiver by a press release substantially in the form of Exhibit C hereto through a major news service at least two business days before the effective date of the release or waiver.

 

(l) No Stabilization or Manipulation. None of the Company, its Affiliates or any person acting on its or any of their behalf (other than the Underwriters, as to which no covenant is given) will take, directly or indirectly, any action designed to or that constitutes or that could reasonably be expected to cause or result in the stabilization or manipulation of the price of any securities of the Company.

 

(m) Investment Company Act. The Company shall not invest, or otherwise use the proceeds received by the Company from the sale of the Firm Shares in such a manner as would require the Company or any of its subsidiaries to register as an “investment company” (as defined in the Investment Company Act) under the Investment Company Act.

 

(n) Transfer Agent. The Company shall engage and maintain, at its expense, a registrar and transfer agent for the Ordinary Shares.

 

(o) Reports. For the period of two years from the date of this Agreement, the Company will furnish to the Representative, as soon as they are available, copies of all reports or other communications (financial or other) furnished to holders of the Shares, and copies of any reports and financial statements furnished to or filed with the Commission or any national securities exchange or automatic quotation system; provided that the Company will be deemed to have furnished such reports and financial statements to the Representative to the extent they are filed on EDGAR.

 

(p) License. Upon request of the Representative, the Company shall furnish, or cause to be furnished, to the Representative an electronic version of the Company’s trademarks, servicemarks and corporate logo for use on the website, if any, operated by the Representative for the purpose of facilitating the online offering of the Shares (the “License”); provided, however, that the License shall be used solely for the purpose described above, is granted without any fee and may not be assigned or transferred.

 

5. [Reserved.]

 

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6. Covenants of the Underwriters. The Underwriters hereby covenant and agree with the Company as follows:

 

(a) Underwriter Free Writing Prospectus. The Underwriters have not used, authorized the use of, referred to or participated in the planning for use of, and will not use, authorize the use of, refer to or participate in the planning for use of, any Free Writing Prospectus (which term includes use of any written information furnished to the Commission by the Company and not incorporated by reference into the Registration Statement and any press release issued by the Company) other than (i) a Free Writing Prospectus that contains no “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act (“Issuer Information”) that was not included in the Pricing Prospectus or a previously filed Issuer Free Writing Prospectus, (ii) any Issuer Free Writing Prospectus listed in Schedule II hereto or prepared pursuant to Section 1(e)(iv) or Section 4(e) hereof (including any electronic road show), or (iii) any Free Writing Prospectus prepared by the Underwriters and approved by the Company in advance in writing.

 

(b) Section 8A Proceedings. The Underwriters are not subject to any pending proceeding under Section 8A of the Securities Act with respect to the offering of the Shares and will promptly notify the Company if any such proceeding against it is initiated during the Prospectus Delivery Period.

 

(c) Price Stabilization. The Underwriters will not take, directly or indirectly, any action that is designed to or that has constituted stabilization or manipulation of the price of the Shares, including over-allotment sales, syndicate covering transactions, and penalty bids.

 

7. Payment of Expenses.

 

(a) Company Expenses. Whether or not the transactions contemplated by this Agreement are consummated or this Agreement is terminated, the Company agrees to pay or cause to be paid, in such proportions as they may agree among themselves, all costs and expenses incident to the performance of their respective obligations hereunder, including, without limitation, (i) all expenses incident to the authorization, issuance, sale, preparation and delivery of the Shares (including all printing and engraving costs), (ii) all necessary issue, transfer, stamp and other taxes in connection with the authorization, issuance, sale, preparation and delivery of the Shares to the Underwriters, (iii) all fees and expenses of the Company’s counsel (including local and special counsel), independent public or certified public accountants and other advisors, (iv) all costs and expenses incurred in connection with the preparation, printing or reproduction, and filing with the Commission of the Registration Statement, the Pricing Disclosure Package, the Final Prospectus, any Preliminary Prospectus or any Issuer Free Writing Prospectus, including, in each case, financial statements, schedules, exhibits, consents, amendments and supplements thereto, (v) all costs and expenses incurred in connection with the shipping and distribution (including postage, air freight charges and charges for packaging) of the Registration Statement, the Pricing Disclosure Package, the Final Prospectus, any Preliminary Prospectus or any Issuer Free Writing Prospectus, including, in each case, financial statements, schedules, exhibits, consents, amendments and supplements thereto, as may, in each case, be reasonably requested by the Representative for use in connection with the offering and sale of the Shares, (vi) all fees and expenses incurred in connection with qualifying or registering (or obtaining exemptions from the qualification or registration of) the Shares for offer and sale under the securities laws of the several states of the United States or other jurisdictions as the Representative may request and the preparation, printing and distribution of a Blue Sky memorandum (including the reasonable related fees and expenses of counsel for the Underwriters in an amount not to exceed $225,000), (vii) all fees and expenses (including fees and expenses of counsel) of the Company in connection with approval of the Shares by DTC for “book-entry” transfer, (viii) all expenses and application fees related to the registration of the Ordinary Shares under the Exchange Act and the listing of the Ordinary Shares, including the Shares, on the Exchange, (ix) all expenses incurred by the Company in connection with any “road show” presentation to potential investors, it being understood and agreed that except as provided in this Section 7(a) and Section 9 hereof, the Underwriters will pay all of the travel, lodging and other expenses of the Underwriters or any of their employees incurred in connection with the “road show,” (x) the costs and charges of the transfer agent and the registrar for the Ordinary Shares, (xi) all application fees and fees and expenses of counsel for the Underwriters incurred in connection with any filing with, and clearance of the offering by, FINRA (including the related fees and expenses of counsel for the Underwriters); (xii) all fees and expenses incurred by the Underwriters, including the fees and disbursements of counsel for the Underwriters and any stamp duties, similar taxes, duties or other taxes and (xiii) all other expenses incident to the performance by the Company of their respective other obligations under this Agreement.

 

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(b) Underwriter Expenses. Except to the extent otherwise provided in this Section 7 or Section 9 hereof, the Underwriters will pay all of its own costs and expenses, including the fees and expenses of their counsel, any stock transfer taxes on resale of any of the Shares held by it, and any advertising expenses connected with any offers they may make.

 

(c) Company Reimbursement. The provisions of this Section 7 shall not affect any agreement that the Company may make for the sharing of such costs and expenses.

 

8. Conditions of the Obligations of the Underwriters. The obligations of the Underwriters to purchase the Firm Shares as provided herein on the Closing Date shall be subject to the timely performance by the Company of their covenants and other obligations hereunder, and to each of the following additional conditions:

 

(a) Registration Compliance; No Stop Order.

 

(i) The Registration Statement and any post-effective amendment thereto shall have become effective, no stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto shall be in effect, and no proceeding for such purpose or pursuant to Section 8A of the Securities Act shall be pending before or threatened by the Commission.

 

(ii) The Company shall have filed the Final Prospectus and each Issuer Free Writing Prospectus with the Commission in accordance with and within the time periods prescribed by Section 4(a) hereof.

 

(iii) The Company shall have (A) disclosed to the Representative all requests by the Commission for additional information relating to the offer and sale of the Shares and (B) complied with such requests to the reasonable satisfaction of the Representative.

 

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(b) Representations and Warranties. The respective representations and warranties of the Company contained herein shall be true and correct on the date hereof and on and as of the Closing Date, and the statements of the Company and its officers made in any certificates delivered pursuant to this Agreement shall be true and correct on and as of the Closing Date.

 

(c) Accountants’ Comfort Letters. On the date of this Agreement and on the Closing Date, Audit Alliance LLP shall have furnished to the Representative, at the request of the Company, letters, dated the respective dates of delivery thereof and addressed to the Underwriters, in form and substance satisfactory to the Representatives, containing statements and information of the type customarily included in accountants’ “comfort letters” to underwriters with respect to the financial statements and certain financial information contained in each of the Registration Statement, the Pricing Disclosure Package and the Final Prospectus; provided that the letter delivered on the Closing Date shall use a “cut-off” date no more than three business days prior to the Closing Date.

 

(d) No Downgrade. Subsequent to the execution and delivery of this Agreement and prior to the Closing Date (i) no downgrading shall have occurred in any rating accorded to the Company or any of its subsidiaries or any debt securities issued or guaranteed by the Company or any of its subsidiaries by any “nationally recognized statistical rating organization” (as such term is defined under Section 3(a)(62) of the Exchange Act); and (ii) no such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its rating of the Company or any of its subsidiaries or any debt securities issued or guaranteed by the Company or any of its subsidiaries (other than any announcement with positive implications of a possible upgrading).

 

(e) No Material Adverse Change. No event or condition of a type described in Section 1(k) hereof shall have occurred or shall exist, which event or condition is not described in each of the Pricing Disclosure Package and the Final Prospectus (in each case, exclusive of any amendment or supplement thereto), the effect of which in the judgment of the Representative makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Shares on the Closing Date in the manner and on the terms contemplated by this Agreement, the Pricing Disclosure Package and the Final Prospectus (in each case, exclusive of any amendment or supplement thereto).

 

(f) Opinion and Negative Assurance Letter of U.S. Counsel to the Company. TroyGould PC, U.S. counsel to the Company, shall have furnished to the Representative, at the request of the Company, its (i) written opinion, addressed to the Underwriters and dated the Closing Date and (ii) negative assurance letter, addressed to the Underwriters and dated the Closing Date in form and substance reasonably satisfactory to the Representative.

 

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(g) Opinion of Cayman Islands Counsel to the Company. Conyers Dill & Pearman, special Cayman Islands legal counsel to the Company, shall have furnished to the Representative, at the request of the Company, its written opinion, addressed to the Underwriters and dated the Closing Date in form and substance reasonably satisfactory to the Representative.

 

(h) Opinion of Singapore Counsel to the Company. Loo & Partners, Singapore counsel to the Company, shall have furnished to the Representative, at the request of the Company, its written opinion, addressed to the Underwriters and dated the Closing Date in form and substance reasonably satisfactory to the Representative.

 

(i) [Reserved.]

 

(j) Opinion and Negative Assurance Letter of Counsel to the Underwriters. Taft Stettinius & Hollister LLP, counsel to the Underwriters, shall have furnished to the Representative its (i) written opinion, addressed to the Underwriters and dated the Closing Date with respect to such matters as the Representative may reasonably request and (ii) negative assurance letter, addressed to the Underwriters and dated the Closing Date, and the Company shall have furnished to such counsel such documents and information as such counsel may reasonably request to enable them to pass on such matters.

 

(k) Officers’ Certificates. The Representative shall have received on and as of the Closing Date a certificate of the Chief Executive Officer and Chief Financial Officer of the Company (i) confirming that such officers have carefully reviewed the Registration Statement, the Pricing Disclosure Package, the Final Prospectus and each Issuer Free Writing Prospectus, and the representations set forth in Sections 1(a)(ii), ‎1(b), ‎1(c)(i), ‎1(d)(i), ‎1(e)(i) and ‎1(h) hereof are true and correct on and as of the Closing Date; (ii) to the effect set forth in clause (i) of Section 1(k) and Section 8(a) hereof; and (iii) confirming that all of the other representations and warranties of the Company in this Agreement are true and correct in all material respects on and as of the Closing Date and that the Company has complied with all agreements and covenants and satisfied all other conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date.

 

(l) [Reserved.]

 

(m) No Legal Impediment to Issuance and Sale. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent the issuance, sale or delivery of the Firm Shares by the Company; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of the Closing Date, prevent the issuance, sale or delivery of the Firm Shares.

 

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(n) Good Standing. The Representative shall have received on and as of the Closing Date satisfactory evidence of the good standing (or the applicable equivalent thereof in the Cayman Islands or Singapore) of the Company and each of the Company’s subsidiaries in their respective jurisdictions of incorporation or organization and their good standing in such other jurisdictions as the Representative may reasonably request, in each case, in writing from the appropriate governmental authorities of such jurisdictions.

 

(o) Lock-Up Agreements. The lock-up agreements, in the form of Exhibit A hereto (the “Lock-Up Agreements”), executed by the officers, directors and certain equity holders of the Company relating to sales and certain other dispositions of Ordinary Shares or certain other securities, delivered to the Representative on or before the date hereof, shall be in full force and effect on the Closing Date.

 

(p) [Reserved.]

 

(q) Exchange Listing. On the Closing Date, the Shares shall have been approved for listing on the Exchange, subject to notice of issuance.

 

(r) [Reserved.]

 

(s) Additional Documents. On or prior to the Closing Date, the Representative and its counsel shall have received such information, certificates and other additional documents from the Company as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Shares as contemplated herein or in order to evidence the accuracy of any of the representations and warranties, or the satisfaction of any of the covenants, closing conditions or other obligations, contained in this Agreement.

 

All opinions, letters, certificates and other documents delivered pursuant to this Agreement will be deemed to be in compliance with the provisions hereof only if they are reasonably satisfactory in form and substance to counsel for the Underwriters.

 

If any condition specified in this Section 8 is not satisfied when and as required to be satisfied, this Agreement and all obligations of the Underwriters hereunder may be terminated by the Representative by notice to the Company at any time on or prior to the Closing Date, which termination shall be without liability on the part of any party to any other party, except that the Company shall continue to be liable for the payment of expenses under Section 7 and Section 12 hereof and except that the provisions of Section 9 and Section 10 hereof shall at all times be effective and shall survive any such termination.

 

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9. Indemnification.

 

(a) Indemnification of the Underwriters by the Company. The Company agrees to indemnify and hold harmless (to the fullest extent permitted by applicable law) each Underwriter, each of their Affiliates, directors, officers, employees and agents and each person, if any, who controls any Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities (including, without limitation, all reasonable legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary in order to make the statements therein not misleading, or (ii) any untrue statement or alleged untrue statement of a material fact contained in any Pricing Disclosure Package (including any Pricing Disclosure Package that has subsequently been amended), the Final Prospectus (or any amendment or supplement thereto), any Preliminary Prospectus, any Issuer Information, any Issuer Free Writing Prospectus or any Road Show, or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case, except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with the Underwriter Information. The indemnity agreement set forth in this Section 9(a) shall be in addition to any liabilities that the Company may otherwise have.

 

(b) [Reserved.]

 

(c) Indemnification of the Company by the Underwriters. The Underwriters agree to indemnify and hold harmless the Company, its directors, each officer who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities (including, without limitation, all reasonable legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, to the same extent as the indemnity set forth in Section 9(a) hereof; provided, however, that the Underwriters shall be liable only to the extent that any untrue statement or omission or alleged untrue statement or omission was made in the Registration Statement (or any amendment or supplement thereto), any Pricing Disclosure Package (including any Pricing Disclosure Package that has subsequently been amended), the Final Prospectus (or any amendment or supplement thereto), any Preliminary Prospectus, any Issuer Information, any Issuer Free Writing Prospectus or any Road Show in reliance upon, and in conformity with, the Underwriter Information, it being understood and agreed upon that the only such Underwriter Information furnished by the Underwriters consists of the following information furnished on behalf of the respective Underwriter: the concession and reallowance figures appearing in the third paragraph under the caption “Underwriting” in the Final Prospectus. The indemnity agreement set forth in this Section 9(c) shall be in addition to any liabilities that the Underwriters may otherwise have.

 

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(d) Notifications and Other Indemnification Procedures. If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any person in respect of which indemnification may be sought pursuant to any of the preceding subsections of this Section 9, such person (the “Indemnified Person”) shall promptly notify the person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under any of the preceding subsections of this Section 9 except to the extent that it has been materially prejudiced by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under any of the preceding subsections of this Section 9. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the Indemnified Person in such proceeding and shall pay the reasonable and documented fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interest between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be paid or reimbursed as they are incurred. Any such separate firm for (i) the Underwriters, their Affiliates, directors, officers, employees and agents and each person, if any, who controls the Underwriters within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act shall be designated in writing by the applicable Underwriter; and (ii) the Company, its directors, its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act shall be designated in writing by the Company.

 

(e) Settlements. The Indemnifying Person under this Section 9 shall not be liable for any settlement of any proceeding effected without its written consent, which consent may not be unreasonably withheld, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify the Indemnified Person from and against any loss, claim, damage, liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested an Indemnifying Person to reimburse the Indemnified Person for any reasonably incurred and documented fees and expenses of counsel as contemplated by this Section 9, the Indemnifying Person agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such Indemnifying Person of the aforesaid request, (ii) such Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request, or shall not have disputed in good faith the Indemnified Person’s entitlement to such reimbursement, prior to the date of such settlement and (iii) such Indemnified Person shall have given the Indemnifying Person at least 30 days’ prior notice of its intention to settle. No Indemnifying Person shall, without the prior written consent of the Indemnified Person, which consent may not be unreasonably withheld, effect any settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect of which any Indemnified Person is or could have been a party and indemnity was or could have been sought hereunder by such Indemnified Person, unless such settlement, compromise or consent (x) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from and against all liability on claims that are the subject matter of such action, suit or proceeding and (y) does not include any statements as to or any findings of fault, culpability or failure to act by or on behalf of any Indemnified Person.

 

30
 

 

10. Contribution. To the extent the indemnification provided for in Section 9 hereof is unavailable to or insufficient to hold harmless an Indemnified Person in respect of any losses, claims, damages, liabilities or expenses referred to therein, then each Indemnifying Person, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the aggregate amount paid or payable by such Indemnified Person, as incurred, as a result of any losses, claims, damages, liabilities or expenses referred to therein (i) in such proportion as is appropriate to reflect the relative benefits received by the Company, on the one hand, and the Underwriters, on the other hand, from the offering of the Shares pursuant to this Agreement or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and the Underwriters, on the other hand, in connection with the statements or omissions that resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand, and the Underwriters, on the other hand, in connection with the offering of the Shares pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Shares pursuant to this Agreement (before deducting expenses) received by the Company, on the one hand, and the total underwriting discounts and commissions received by the Underwriters, on the other hand, in each case as set forth in the table on the cover of the Final Prospectus bear to the aggregate initial offering price of the Shares. The relative fault of the Company, on the one hand, and the Underwriters, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company, on the one hand, or the Underwriters, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in Section 9 hereof, all reasonable legal or other fees or expenses incurred by such party in connection with investigating or defending any action or claim. The provisions set forth in Section 9 hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this Section 10; provided, however, that no additional notice shall be required with respect to any action for which notice has been given under Section 9 hereof for purposes of indemnification.

 

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The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this Section 10 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 10.

 

Notwithstanding the provisions of this Section 10, each Underwriter shall not be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Underwriter in connection with the Shares distributed by it exceeds the amount of any damages the Underwriter has otherwise paid or become liable to pay by reason of any untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11 of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.

 

For purposes of this Section 10, each director, officer, employee and agent of the Underwriters and each person, if any, who controls any Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act shall have the same rights to contribution as the applicable Underwriter, and each director and officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company with the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, shall have the same rights to contribution as the Company.

 

The remedies provided for in Section 9 and Section 10 hereof are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in equity.

 

11. Termination. Prior to the delivery of and payment for the Shares on the Closing Date, this Agreement may be terminated by the Representative by notice given to the Company if after the execution and delivery of this Agreement: (i) trading or quotation of any securities issued or guaranteed by the Company shall have been suspended or materially limited on any securities exchange, quotation system or in the over-the-counter market; (ii) trading in securities generally on any of the New York Stock Exchange, the Nasdaq Capital Market, Singapore Exchange, Cayman Islands Stock Exchange or the over-the-counter market shall have been suspended or materially limited; (iii) a general banking moratorium on commercial banking activities shall have been declared by federal or New York state authorities or the authorities of Singapore or the Cayman Islands; (iv) there shall have occurred a material disruption in commercial banking or securities settlement, payment or clearance services in the United States or Asia; (v) there shall have occurred any outbreak or escalation of national or international hostilities or any crisis or calamity, or any change in the United States or international financial markets, or any substantial change or development involving a prospective substantial change in general economic, financial or political conditions in the United States or internationally, as in the judgment of the Representative is material and adverse and makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Shares on the Closing Date in the manner and on the terms described in the Pricing Disclosure Package or to enforce contracts for the sale of securities; or (vi) the Company or any of its subsidiaries shall have sustained a loss by strike, fire, flood, earthquake, accident or other calamity of such character as in the judgment of the Representative may interfere materially with the conduct of the business and operations of the Company and its subsidiaries, considered as one entity, regardless of whether or not such loss shall have been insured.

 

32
 

 

 

Any termination pursuant to this Section 11 shall be without liability on the part of: (x) the Company to the Underwriters, except that the Company shall continue to be liable for the payment of expenses under Section 7 hereof and Section 12 hereof; (y) the Underwriters to the Company; or (z) any party hereto to any other party except that the provisions of Section 9 and Section 10 hereof shall at all times be effective and shall survive any such termination.

 

12. Reimbursement of the Representative’s Expenses. If (a) the Company fails to deliver the Shares to the Underwriters for any reason at the Closing Date in accordance with this Agreement or (b) the Representative declines to purchase the Shares for any reason permitted under this Agreement, then the Company agrees to reimburse the Representative for all reasonable out-of-pocket costs and expenses (including the reasonable and documented fees and expenses of counsel to the Representative) incurred by the Representative in connection with this Agreement and the applicable offering contemplated hereby.

 

The provisions of this Section 12 shall not affect any agreement that the Company may make for the sharing of such costs and expenses.

 

13. Representations and Indemnities to Survive Delivery. The respective indemnities, rights of contribution, agreements, representations, warranties and other statements of the Company and the Underwriters set forth in or made pursuant to this Agreement or made by or on behalf of the Company or the Underwriters pursuant to this Agreement or any certificate delivered pursuant hereto shall remain in full force and effect, regardless of any investigation made by or on behalf of the Underwriters, the Company or any of their respective officers or directors or any controlling person, as the case may be, and shall survive delivery of and payment for the Shares sold hereunder and any termination of this Agreement.

 

33
 

 

14. Notices. All notices, requests, consents, claims, demands, waivers and other communications under this Agreement shall be in writing and shall be deemed to have been duly given (i) when delivered by hand (with written confirmation of receipt), (ii) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested), (iii) on the date sent by facsimile (with confirmation of transmission) or email of a PDF document if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient, or (iv) on the third day after the date mailed, by certified or registered mail (in each case, return receipt requested, postage pre-paid). Such communications must be sent to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 14):

 

If to the Representative:  

Wilson-Davis & Co., Inc.

236 South Main Street

Salt Lake City, Utah 84101

Email Address: rmcbey@wdco.com

Attention: Robery McBey

 

with a copy to:  

Taft Stettinius & Hollister LLP

111 East Wacker, Suite 2800

Chicago, Illinois 60601

Facsimile number: (312)-966-8479

Email Address: mgoldsmith@taftlaw.com

Attention: Mitchell D. Goldsmith

 

If to the Company:  

SAG Holdings Limited

14 Ang Mo Kio Street 63

Singapore 569116

Facsimile number: (65) 6288 7882

Email Address: ivy.lee@soonaik.com

Attention: Ivy Lee

     
with copies to:  

TroyGould PC

1801 Century Park East, Suite 1600

Los Angeles, California 90067

Facsimile number: (310) 201-4746

Email Address: dficksman@troygould.com;
jwood@troygould.com

Attention: David L. Ficksman; R. Joilene Wood

 

Loo & Partners LLP

160 Robinson Road, No. 15-06 SBF Centre

Singapore 068914

Facsimile number: (65) 6534 0833

Email Address: ccloo@loopartners.com.sg

Attention: Loo Choon Chiaw

 

Any party hereto may change the address or facsimile number for receipt of communications by giving written notice to the others in accordance with this Section 14.

 

34
 

 

15. Successors. This Agreement shall inure solely to the benefit of and be binding upon the Representative, the Company and the other indemnified parties referred to in Section 9 and Section 10 hereof, and in each case their respective successors. Nothing in this Agreement is intended, or shall be construed, to give any other person or entity any legal or equitable right, benefit, remedy or claim under, or in respect of or by virtue of, this Agreement or any provision contained herein. The term “successors,” as used herein, shall not include any purchaser of the Shares from the Underwriters merely by reason of such purchase.

 

16. Partial Unenforceability. The invalidity or unenforceability of any Section, paragraph or provision of this Agreement shall not affect the validity or enforceability of any other Section, paragraph or provision hereof. If any Section, paragraph or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable.

 

17. Governing Law. This Agreement and any claim, controversy or dispute arising under or related to this Agreement, whether sounding in contract, tort or statute, shall be governed exclusively by and construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in such state (including its statute of limitations), without giving effect to the conflict of laws provisions thereof to the extent such principles or rules would require or permit the application of the laws of any jurisdiction other than those of the State of New York.

 

18. Consent to Jurisdiction. No legal suit, action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby (each, a “Related Proceeding”) may be commenced, prosecuted or continued in any court other than the courts of the State of New York located in the City and County of New York or in the United States District Court for the Southern District of New York, which courts (collectively, the “Specified Courts”) shall have jurisdiction over the adjudication of any Related Proceeding, and the parties to this Agreement hereby irrevocably consent to the exclusive jurisdiction the Specified Courts and personal service of process with respect thereto. The parties to this Agreement hereby irrevocably waive any objection to the laying of venue of any Related Proceeding in the Specified Courts and irrevocably waive and agree not to plead or claim in any Specified Court that any Related Proceeding brought in any Specified Court has been brought in an inconvenient forum.

 

19. Judgment Currency. The Company agrees to indemnify the Underwriters against any loss incurred by the Underwriters as a result of any judgment or order being given or made against the Company for any amount due hereunder and such judgment or order being expressed and paid in a currency (the “Judgment Currency”) other than United States dollars and as a result of any variation as between (i) the rate of exchange at which the United States dollar amount is converted into the Judgment Currency for the purpose of each judgment or order, and (ii) the rate of exchange in The City of New York at which such party on the date of payment of such judgment or order is able to purchase United States dollars with the amount of the Judgment Currency actually received by such party if such party had utilized such amount of Judgment Currency to purchase United States dollars as promptly as practicable upon such party’s receipt thereof. The foregoing indemnity shall constitute a separate and independent obligation of the Company and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. If the United States dollars so purchased are greater than the sum originally due to the Underwriters hereunder, the Underwriters agree to pay to the Company an amount equal to the excess of the dollars so purchased over the sum originally due to the Underwriters hereunder. The term “rate of exchange” shall include any premiums and costs of exchange payable in connection with the purchase of, or conversion into, the relevant currency.

 

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20. Waiver of Jury Trial. The parties to this Agreement hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any Related Proceeding.

 

21. No Fiduciary Relationship. The Company acknowledges and agree that: (i) the purchase and sale of the Shares pursuant to this Agreement, including the determination of the offering price of the Shares and any related discounts and commissions, is an arm’s-length commercial transaction between the Company, on the one hand, and the Underwriters, on the other hand; (ii) in connection with each transaction contemplated hereby and the process leading to such transaction any Underwriter is and has been acting solely as a principal and is not the agent or fiduciary of the Company or its Affiliates, shareholders, members, partners, creditors or employees or any other party; (iii) the Underwriters have not assumed and will not assume an advisory or fiduciary responsibility in favor of the Company with respect to any of the transactions contemplated hereby or the process leading thereto (irrespective of whether any Underwriter has advised or is currently advising the Company on other matters) or any other obligation to the Company except the obligations expressly set forth in this Agreement; (iv) the Underwriters and their Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Company, and the Underwriters have no obligation to disclose any of such interests by virtue of any fiduciary or advisory relationship; and (v) the Underwriters have not provided any legal, accounting, regulatory or tax advice in any jurisdiction with respect to the offering contemplated hereby, and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent they deemed appropriate. The Company waives and releases, to the full extent permitted by applicable law, any claims it may have against the Underwriters arising from an alleged breach of fiduciary duty in connection with the offering of the Shares or any matters leading up to the offering of the Shares.

 

22. Compliance with the USA Patriot Act. In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the Underwriters are required to obtain, verify and record information that identifies its clients, including the Company, which information may include the name and address of their respective clients, as well as other information that will allow the Underwriters to properly identify their respective clients.

 

23. Entire Agreement. This Agreement, together with any contemporaneous written agreements and any prior written agreements (to the extent not superseded by this Agreement) that relate to the offering of the Shares, represents the entire agreement between the Company and the Underwriters with respect to the preparation of the Registration Statement, the Pricing Disclosure Package, the Final Prospectus, each Preliminary Prospectus, each Issuer Free Writing Prospectus and each Road Show, the purchase and sale of the Shares and the conduct of the offering contemplated hereby.

 

24. Amendments or Waivers. No amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by all the parties hereto. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after the waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise of any other right, remedy, power or privilege.

 

25. Section Headings. The headings herein are included for convenience of reference only and are not intended to be part of, or to affect the meaning or interpretation of, this Agreement.

 

26. Counterparts. This Agreement may be executed in counterparts (which may include counterparts delivered by any standard form of telecommunication), each of which shall be deemed an original and all of which together shall constitute one and the same agreement.

 

[signature page follows]

 

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If the foregoing is in accordance with your understanding, please indicate your acceptance of this Agreement by signing in the space provided below.

 

  Very truly yours,
     
  SAG Holdings Limited
     
  By:  
  Name: Neo Chin Heng
  Title: Director

 

Confirmed and accepted as of the date first above written:

 

Wilson-Davis & Co., Inc.  
     
By:    
Name: Robert McBey  
Title: Chief Executive Officer  

 

37
 

 

Schedule I

 

Underwriters

 

Name  Number of Shares to be Purchased 
Wilson-Davis & Co., Inc.   875,000 
Dominari Securities LLC   - 

 

38
 

 

Schedule II

 

Pricing Disclosure Package

 

39
 

 

Exhibit A

 

Form of Lock-Up Agreement

 

40
 

 

Exhibit B

 

Form of Lock-Up Waiver

 

41
 

 

Exhibit C

 

Form of Lock-Up Waiver Press Release

 

42