ACAC Overview

Company Milestone: Foxx Development Holdings Inc. has been included in the Russell Microcap Index, marking a significant achievement for the company and enhancing its visibility among institutional investors.

CEO Statement: CEO Greg Foley expressed pride in this recognition, highlighting that it validates their financial performance and may aid in the company's expansion within the consumer electronics and IoT sectors.

Strategic Partnership Announcement: Foxx Development Holdings Inc. has entered into a distribution agreement with FreeCast Inc., allowing users of Foxx's mobile devices to access FreeCast's streaming platform, which consolidates hundreds of streaming services into one interface.

Enhanced User Experience: The integration will provide users with over 700 free channels and simplify content discovery and subscription management through features like intelligent universal search and YouBundle, addressing the complexities faced by modern content consumers.

Foxx Development's Nasdaq Closing Bell Ceremony: Foxx Development Holdings Inc. will ring the Nasdaq Closing Bell on January 3, 2025, celebrating its transition to a publicly traded company and ongoing business expansion since September 2024.

CEO's Statement on Growth and Innovation: CEO Greg Foley emphasized that this milestone reflects the company's commitment to sustainable growth and innovation in providing IoT solutions, with the ceremony being broadcast live and available for viewing online.

Business Combination Announcement: Foxx Development Inc. successfully completed its business combination with Acri Capital Acquisition Corporation, resulting in the formation of Foxx Development Holdings Inc., which will begin trading on Nasdaq under the ticker symbols "FOXX" and "FOXXW" starting September 27, 2024.

Company Vision and Future Plans: The new public company aims to enhance its innovation and customer-centric design in consumer electronics and IoT solutions, with a focus on expanding its market presence and creating an interconnected future through technology.

Business Combination Extension: Acri Capital Acquisition Corporation has extended the deadline for completing its initial business combination from September 14, 2024, to October 14, 2024, following a $50,000 payment from Foxx Development Inc. into its trust account.

Company Overview: Acri Capital Acquisition Corporation is a special purpose acquisition company (SPAC) designed to merge or acquire businesses, with provisions allowing monthly extensions for completing business combinations until January 14, 2025.

Business Combination Approval: Acri Capital Acquisition Corporation announced that its business combination with Foxx Development Inc. was approved by approximately 96.9% of stockholders at a special meeting on August 27, 2024, with plans to close the transaction next month.

New Company Name and Trading Symbols: Upon completion of the merger, the combined entity will be renamed "Foxx Development Holdings Inc." and is expected to begin trading on Nasdaq under the symbols "FOXX" and "FOXXW".