NFT Limited’s warrants are subject to a lock-up agreement that expires on July 10, 2026, marking the end of a 120-day restriction period following the company’s Securities Purchase Agreement.
Under the lock-up terms, the company’s directors, officers, and affiliates agreed not to sell, transfer, pledge, or otherwise dispose of their Class A ordinary shares or securities convertible into Class A ordinary shares without prior written consent from the placement agent. The restrictions also prevented the registration of these securities for sale under the Securities Act of 1933 during the lock-up period.
In addition, the agreement prohibited the lock-up parties from entering into swaps or other transactions that would transfer the economic benefits of ownership of the restricted securities, whether settled in shares, cash, or other forms, except under certain specified conditions and customary exceptions.
The expiration of the lock-up agreement may allow eligible insiders to trade or transfer their holdings, subject to applicable securities laws and the specific terms of the agreement.
