{"url_path":"/sec/wyhg/10-k/2026/item-14","section_key":"item-14","section_title":"Item 14 MATERIAL MODIFICATIONS TO THE RIGHTS","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1999860/0001213900-26-056618-index.html","accession_number":"0001213900-26-056618","cik":"0001999860","ticker":"WYHG","issuer_name":"Wing Yip Food Holdings Group Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1999860/0001213900-26-056618-index.html","primary_entity_key":"0001999860","primary_entity_name":"Wing Yip Food Holdings Group Ltd"},"word_count":389,"has_tables":true,"body_markdown":"** **\n\n**Item 14. MATERIAL MODIFICATIONS TO THE RIGHTS\nOF SECURITY HOLDERS AND USE OF PROCEEDS**\n\n** **\n\nSee “Item 10. Additional Information”\nfor a description of the rights of securities holders, which remain unchanged.\n\n \n\n**Use of Proceeds**\n\n** **\n\n**Registration Statement on Form F-1, as amended (File Number 333-277694)**\n\n** **\n\nThe following “Use of Proceeds” information\nrelates to the registration statement on Form F-1, as amended (File Number 333-277694) for our initial public offering, which was declared\neffective by the SEC on November 6, 2024. On November 27, 2024, we completed our initial public offering in which we issued and sold an\naggregate of 2,050,000 ADSs, representing 2,050,000 Ordinary Shares, at a price of $4.00 per share for approximately $8.20 million. Dawson\nJames Securities, Inc. and D. Boral Capital LLC were the underwriters of our initial public offering. On January 8, 2025, the underwriters\nexercised the over-allotment option in full to purchase the additional 307,500 ADSs. The closing for the sale of the over-allotment ADSs\ntook place on January 14, 2025, resulting in additional gross proceeds of $1,230,000, before underwriting discounts and offering expenses.\nAs a result, the Company raised aggregate gross proceeds of approximately US$9.43 million in the IPO, including the full exercise of the\nover-allotment option, prior to deducting underwriting discounts and offering expenses payable by the Company.\n\n \n\nWe incurred approximately $2.57 million in expenses\nin connection with our initial public offering, which included approximately $0.75 million in underwriting discounts and approximately\n$1.82 million in other expenses. None of the transaction expenses included payments to directors or officers of our Company or their associates,\npersons owning more than 10% or more of our equity securities, or our affiliates. None of the net proceeds we received from the initial\npublic offering were paid, directly or indirectly, to any of our directors or officers or their associates, persons owning 10% or more\nof our equity securities, or our affiliates.\n\n \n\nWe received net proceeds of approximately $6.86\nmillion after the deduction of approximately $2.57 million of offering costs. As of the date of this annual report, we have used $3.29\nmillion, $1.51 million, $1.03 million and $1.03 million from the net proceeds for (i) upgrading existing production lines and establishing\nnew production lines, (ii) marketing and promotion of our products, (iii) new product research and development and (vi) working capital\nand general corporate matters, respectively.  \n\n \n\n113"}