圣盈信金服集团美股招股说明书(2022-08-30版)

424B31form424b3.htm FiledPursuanttoRule424(b)(3)UndertheSecuritiesActof1933RegistrationStatementNo.333-266853 FREIGHTTECHNOLOGIES,INC. 19,147,688OrdinaryShares Thisprospectusrelatestotheresale,bythesellingshareholdersidentifiedinthisprospectusofupto19,147,688ordinaryshares,parvalue$0.011pershare(or“OrdinaryShares”),asfurtherdescribedbelowunder“ProspectusSummary—PrivatePlacements.” Thesellingshareholdersareidentifiedinthetablecommencingonpage93.NoOrdinarySharesarebeingregisteredhereunderforsalebyus.WewillnotreceiveanyproceedsfromthesaleoftheOrdinarySharesbythesellingshareholdersbutmayreceiveupto$3.6millionfromtheexerciseofWarrantsA,CandD,iftheyareexercised.AllnetproceedsfromthesaleoftheOrdinarySharescoveredbythisprospectuswillgotothesellingshareholders.Wewillreceivenocashproceedsfromtheconversionofanyofthepreferredsharesortheexerciseofanywarrants.See“UseofProceeds.”ThesellingshareholdersmaysellalloraportionoftheOrdinarySharesfromtimetotimeinmarkettransactionsthroughanymarketonwhichourOrdinarySharesarethentraded,innegotiatedtransactionsorotherwise,andatpricesandontermsthatwillbedeterminedbythethenprevailingmarketpriceoratnegotiatedpricesdirectlyorthroughabrokerorbrokers,whomayactasagentorasprincipalorbyacombinationofsuchmethodsofsale.See“PlanofDistribution.” OurOrdinarySharesarelistedontheNasdaqCapitalMarketunderthesymbol“FRGT.”ThelastreportedsalepriceofourOrdinarySharesonAugust26,2022was$1.77pershare. Weareanemerginggrowthcompany,asdefinedintheJumpstartOurBusinessStartupsActof2012(ortheJOBSAct)andaresubjecttoreducedpubliccompanyreportingrequirements. Investinginoursecuritiesinvolvesahighdegreeofrisk.See“RiskFactors”beginningonpage24. NeithertheSecuritiesandExchangeCommission(ortheSEC)noranystateorotherforeignsecuritiescommissionhasapprovednordisapprovedthesesecuritiesordeterminedifthisprospectusistruthfulorcomplete.Anyrepresentationtothecontraryisacriminaloffense. ThedateofthisprospectusisAugust30,2022. HoldingForeignCompaniesAccountableAct TheHoldingForeignCompaniesAccountableAct(the“HFCAAct”)wasenactedonDecember18,2020.TheHFCAActstatesiftheSECdeterminesthatacompanyhasfiledauditreportsissuedbyaregisteredpublicaccountingfirmthathasnotbeensubjecttoinspectionbythe PCAOBforthreeconsecutiveyearsbeginningin2021,theSECshallprohibitthecompany’ssharesfrombeingtradedonanationalsecuritiesexchangeorintheoverthecountertradingmarketintheU.S. OnMarch24,2021,theSECadoptedinterimfinalrulesrelatingtotheimplementationofcertaindisclosureanddocumentationrequirementsoftheHFCAAct.AcompanywillberequiredtocomplywiththeserulesiftheSECidentifiesitashavinga“non-inspection”yearunderaprocesstobesubsequentlyestablishedbytheSEC.TheSECisassessinghowtoimplementotherrequirementsoftheHFCAAct,includingthelistingandtradingprohibitionrequirementsdescribedabove. OnJune22,2021,theU.S.Senatepassedabillwhich,ifpassedbytheU.S.HouseofRepresentativesandsignedintolaw,wouldreducethenumberofconsecutivenon-inspectionyearsrequiredfortriggeringtheprohibitionsundertheHFCAActfromthreeyearstotwoyears. OnDecember2,2021,theSECissuedamendmentstofinalizerulesimplementingthesubmissionanddisclosurerequirementsintheHFCAAct.TherulesapplytoregistrantsthattheSECidentifiesashavingfiledanannualreportwithanauditreportissuedbyaregisteredpublicaccountingfirmthatislocatedinaforeignjurisdictionandthatPCAOBisunabletoinspectorinvestigatecompletelybecauseofapositiontakenbyanauthorityinforeignjurisdictions. 2 OnDecember16,2021,PCAOBannouncedthePCAOBHFCAActdeterminations(the“PCAOBdeterminations”)relatingtothePCAOB’sinabilitytoinspectorinvestigatecompletelyregisteredpublicaccountingfirmsheadquarteredinmainlandChinaofthePRCorHongKong,aSpecialAdministrativeRegionanddependencyofthePRC,becauseofapositiontakenbyoneormoreauthoritiesinthePRCorHongKong. Ourpreviousauditor,CenturionZDCPA&Co.,theindependentregisteredpublicaccountingfirmthatissuedtheauditreportincludedinthisprospectus,asanauditorofcompaniesthataretradedpubliclyintheUnitedStatesandafirmregisteredwiththePCAOB,issubjecttolawsintheUnitedStatespursuanttowhichthePCAOBconductsregularinspectionstoassessCenturionZDCPA&Co.’scompliancewithapplicableprofessionalstandards.CenturionZDCPA&Co.isheadquarteredinHongKongwithnobranchesorofficesintheUnitedStates.Assuch,CenturionZDCPA&Co.,wasidentifiedasafirmsubjecttothePCAOB’sdeterminations. OnJune13,2022,wedismissedCenturionZDCPA&Co.andappointedUHYLLPasournewindependentpublicaccountingfirm.UHYLLP,whichisheadquarteredinMichigan,hasbeeninspectedbythePCAOBonaregularbasis,withthelastinspectioncompletedin2019,anditisnotsubjecttothedeterminationsannouncedbythePCAOBonDecember16,2021.IftradinginourOrdinarySharesisprohibitedundertheHFCAActinthefuturebecausethePCAOBdeterminesthatitcannotinspectorfullyinvestigateourauditoratsuchfuturetime,NasdaqmaydeterminetodelistourOrdinaryShares.IfourOrdinarySharesareunabletobelistedonanothersecuritiesexchangebythen,suchadelistingwouldsubstantiallyimpairyourabilitytosellorpurchaseourOrdinaryShareswhenyouwishtodoso,andtheriskanduncertaintyassociatedwithapotentialdelisti