BayRoad Holdings Limited disclosed a 33.43% beneficial stake in Foxx Development Holdings Inc. common stock. The position stems from a May 1, 2026 agreement to acquire shares and warrants from Acri Capital Sponsor LLC, with the filing dated May 8, 2026. The investment includes 677,600 shares and 2,500,000 warrants exercisable at $11.50 per share, signaling a sizable financial commitment.

Investor Intent

BayRoad bought the stake for investment purposes and funded the purchase itself. The May 1, 2026 Securities Transfer Agreement covers 635,000 shares at $4.60 per share and 2,500,000 warrants at $0.11 each, for a total of about $3.2 million.

BayRoad states it is a passive investor and currently does not plan to seek control or push for changes at Foxx Development Holdings Inc. The filing notes the position is "held for investment purposes" and that BayRoad "has no present plan or proposal" for actions like board changes or mergers.

Investor's Background

BayRoad Holdings Limited is a Hong Kong investment company, and director Xingrong Han oversees its activities. The firm invests its own capital and focuses on deal-specific opportunities, including public securities and structured positions. From its base in Hong Kong and Shenzhen, BayRoad targets flexible, event-driven investments rather than activist campaigns.

Original SEC Filing: Foxx Development Holdings Inc. [ FOXX ] - SCHEDULE 13D - May. 08, 2026