{"url_path":"/sec/lxeh/10-k/2026/item-14","section_key":"item-14","section_title":"Item 14 MATERIAL MODIFICATIONS TO THE","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/1814067/0001213900-26-055168-index.html","accession_number":"0001213900-26-055168","cik":"0001814067","ticker":"LXEH","issuer_name":"Lixiang Education Holding Co. Ltd.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1814067/0001213900-26-055168-index.html","primary_entity_key":"0001814067","primary_entity_name":"Lixiang Education Holding Co. Ltd."},"word_count":340,"has_tables":true,"body_markdown":"**ITEM 14. MATERIAL MODIFICATIONS TO THE\nRIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS**\n\n** **\n\n**Material Modifications to the Rights of Security Holders**\n\n \n\nSee “*Item 10. Additional\nInformation—B. Memorandum and Articles of Association—Ordinary Shares*” for a description of the rights of securities\nholders, which remain unchanged.\n\n \n\n**Use of Proceeds**\n\n \n\nThe following “Use\nof Proceeds” information relates to (i) the registration statement on Form F-1, as amended (File Number: 333-248691)\nin relation to our initial public offering of 3,333,400 ADSs representing 16,667,000 ordinary shares (now redesignated as Class A ordinary\nshares), at an initial offering price of US$9.25 per ADS. AMTD Global Markets Limited and Loop Capital Markets LLC were the representatives\nof the underwriters for our initial public offering.\n\n \n\nThe F-1 Registration Statement\nbecame effective on September 30, 2020. From the period from the date that the Form F-1 was declared effective by the SEC, to December 31,\n2020, the total expenses incurred for our company’s account in connection with our initial public offering was approximately US$4.8 million,\nwhich included approximately US$2.2 million in underwriting discounts and commissions for the initial public offering, approximately\nUS$440,000 in expenses paid to or for the underwriters as reimbursements, and approximately US$2.2 million in other costs and expenses\nfor our initial public offering. As a result of our initial public offering, we raised an aggregate of approximately US$26.2 million\nin net proceeds, after deducting related costs and expenses. None of the transaction expenses included payments to directors or officers\nof our company or their associates, persons owning more than 10% or more of our equity securities or our affiliates.\n\n \n\nFrom the period from\nSeptember 30, 2020, the date that the Form F-1 was declared effective by the SEC, to December 31, 2025, we used the net\nproceeds received from our initial public offering for our business operation. None of the net proceeds from the initial public\noffering were paid, directly or indirectly, to any of our directors or officers or their associates, persons owning 10% or more of\nour equity securities or our affiliates.\n\n  \n\n172"}