SEC Company Response from KNOREX LTD. (KNRX) (CIK 0001982960) (KNRX) — Jan 14, 2025
KNOREX LTD. (KNRX) (CIK 0001982960)
Date: Jan. 14, 2025 · CIK: 0001982960 · Accession: 0001493152-25-002251
AI Filing Summary & Sentiment
Referenced dates: November 18, 2024
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CORRESP
1
filename1.htm
Morgan,
Lewis & Bockius
c/o
19th Floor,
Edinburgh
Tower, The Landmark
15
Queen’s Road Central, Hong Kong
Direct:
+852.3551.8500
Fax:
+852.3006.4346
www.morganlewis.com
WRITER’S
DIRECT LINE
+852.3551.8688
WRITER’S
EMAIL
louise.liu@morganlewis.com
January
14, 2025
Confidential
Ms.
Chen Chen
Mr.
Chris Dietz
Mr.
Matthew Crispino
Mr.
Larry Spirgel
Division
of Corporation Finance
Office
of Technology
U.S.
Securities and Exchange Commission
100
F Street, N.E.
Washington,
D.C. 20549
Re:
Knorex
Ltd. (CIK No. 0001982960)
Registration
Statement on Form F-1
Dear
Ms. Chen, Mr. Dietz, Mr. Crispino, and Mr. Spirgel:
On
behalf of our client, Knorex Ltd., a foreign private issuer organized under the laws of the Cayman Islands (the “Company”),
we submit to the staff (the “Staff”) of the Securities and Exchange Commission (the “Commission”)
this letter setting forth the Company’s responses to the comments contained in the Staff’s letter dated November 18, 2024
on the Company’s registration statement on Form F-1 (the “Registration Statement”) initially filed on November
12, 2024 (the “Initial Filing Date”).
Concurrently
with the submission of this letter, the Company is filing herewith amendment No. 1 (“Amendment No. 1”) to the Registration
Statement and certain exhibits via EDGAR to the Commission. The Staff’s comments are repeated below in bold and are followed by
the Company’s responses. We have included page references in the Amendment No. 1 where the language addressing a particular comment
appears. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Amendment No. 1.
Partners:
Edwin
Luk, June Chan, Connie Cheung, Keith Cheung*#,
William
Ho, David Liao, Charles Mo, Billy Wong, and Yan Zeng
Registered
Foreign Lawyers:
Eli
Gao (New York), Maurice Hoo (California),
Alice
Huang (California), Mathew Lewis (New York),
Louise
Liu (New York), Vivien Yu (New South Wales),
and
Ning Zhang (New York)
*China-Appointed
Attesting Officer
#Notary Public of Hong Kong
19th
Floor, Edinburgh Tower
The Landmark
15 Queen’s Road Central
Hong Kong
+852.3551.8500
+852.3006.4346
January
14, 2025
Page
2
The
Company respectfully advises the Staff that, subject to market conditions, it plans to launch the road show for the proposed offering
as soon as possible but not earlier than 15 days after the Initial Filing Date. The Company would appreciate the Staff’s timely
assistance and support to the Company in meeting the proposed timetable for the offering.
Unaudited
Condensed Consolidated Financial Statements of Knorex Ltd.
Notes
to Unaudited Condensed Consolidated Financial Statements
Note
17 - Subsequent events, page F-29
1.
Please
revise your disclosures here and on page F-54 to address the issuance of warrants on September 30, 2024 as discussed on page 41.
As part of your response, please tell us whether the warrants were issued in connection with the issuance of debt. In this regard,
we note that your disclosure on page 41 refers to “an aggregate principal amount.” Lastly, if debt was issued, revise
your capitalization and dilution disclosures to reflect the pro forma impact.
In response to the Staff’s comment, the Company has revised the relevant
disclosures on pages 38, 41 81, F-29 and F-54 of the Amendment No. 1 to avoid possible confusion and to clarify that no debt was issued.
The Company respectfully submits that the warrants issued by the Company on September 30, 2024 were in exchange for warrants previously
issued by Knorex SG pursuant to the Restructuring Agreement.
Audited
Consolidated Financial Statements of Knorex Ltd.
Report
of Independent Registered Public Accounting Firm, page F-30
2.
Please
revise to include the signature of the accounting firm. Refer to Rule 2-02(a) of Regulation S-X.
In response to the Staff’s comment, the Company has revised disclosure
on page F-30 of the Amendment No. 1.
If
you have any questions regarding the Amendment No. 1, please contact the undersigned by phone at +852.3551.8688 or via e-mail at louise.liu@morganlewis.com.
Very
truly yours
By:
/s/
Louise L. Liu
Louise
L. Liu
Partner
cc:
Khar
Heng Choo, Director and Chief Executive Officer, KNOREX LTD.
Joan
Wu, Esq., Hunter Taubman Fischer & Li LLC