---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-084719"
form_type: "8-K"
ticker: "FOXX"
cik: "0002013807"
company_name: "Foxx Development Holdings Inc."
filed_at: "2024-10-02T23:59:59+00:00"
generated_at: "2026-05-30T22:49:55.951673+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Foxx Development completes de-SPAC merger with Acri Capital; lists on Nasdaq under FOXX

## Summary
- Closed business combination on Sep 26, 2024; Foxx Development Holdings Inc. now public on Nasdaq (FOXX, FOXXW).
- Gross proceeds of ~$16.6M from $15.0M transaction financing and $1.6M trust (net of redemptions).
- Former Foxx stockholders own ~68.8% of outstanding common stock; former ACAC holders own ~30.7%.
- Redemption of 1,744,663 ACAC shares at $11.75 per share for aggregate ~$20.5M.
- Earnout shares (up to 4.2M) based on FY2024 and FY2025 revenue targets; 500,000 escrow shares tied to ACP reauthorization.

## SEC filing metadata
- accession: 0001213900-24-084719
- form_type: 8-K
- ticker: FOXX
- cik: 0002013807
- company_name: Foxx Development Holdings Inc.
- filed_at: 2024-10-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 1.01, 3.02, 9.01, 3.01, 3.03, 5.03, 5.01, 5.02, 5.05, 5.06
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2013807/000121390024084719/0001213900-24-084719-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2013807/000121390024084719/ea0214995-8k_foxxdevelop.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-084719
- JSON: https://secwatch.observer/filing/0001213900-24-084719.json
- Plain text: https://secwatch.observer/filing/0001213900-24-084719.txt

## Key facts
- Governance Changes
  Foxx Development Holdings Inc.: Ceased to be a shell company upon closing of the business combination.
  - Change: shell status
  source text: Upon the Closing, New Foxx ceased to be a shell company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2013807/000121390024084719/0001213900-24-084719-index.htm
- Governance Changes
  Foxx Development Holdings Inc.: Approved and adopted a new Code of Ethics for directors, officers and employees.
  - Change: code of ethics
  source text: the New Foxx Board approved and adopted a new Code of Ethics applicable to directors, officers and employees (the “Code of Ethics”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/2013807/000121390024084719/0001213900-24-084719-index.htm
- Governance Changes
  Foxx Development Holdings Inc.: Adopted amended and restated bylaws effective as of September 24, 2024 (effective 2024-09-24).
  - Change: bylaw amendment
  - Effective: 2024-09-24
  source text: on September 24, 2024, pursuant to the approval of the Charter Proposal, the New Foxx Board approved and adopted the New Bylaws, which became effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2013807/000121390024084719/0001213900-24-084719-index.htm
- Governance Changes
  Foxx Development Holdings Inc.: Adopted amended and restated certificate of incorporation effective September 25, 2024 (effective 2024-09-25).
  - Change: charter amendment
  - Effective: 2024-09-25
  source text: The New Charter, which became effective upon filing with the Secretary of State of the State of Delaware on September 25, 2024, includes the amendments proposed by the Charter Proposal and approved at the Special Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2013807/000121390024084719/0001213900-24-084719-index.htm
- M&A Transactions
  Foxx Development Holdings Inc. underwent a change of control involving Acri Capital Acquisition Corporation (closed 2024-09-26).
  - Action: change of control
  - Counterparty: Acri Capital Acquisition Corporation
  - Closing: 2024-09-26
  source text: On September 26, 2024 (the “Closing”), Acri Capital Acquisition Corporation, a Delaware corporation (“ACAC”) consummated the previously announced business combination
  evidence_url: https://www.sec.gov/Archives/edgar/data/2013807/000121390024084719/0001213900-24-084719-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.