Item 4 — Purpose of Transaction
Item 4 of the Schedule 13D is supplemented as follows: On May 10, 2026, upon the effectiveness of the increase of the Beneficial Ownership Limitation, RBCH Ltd. exercised the remaining Pre-Funded Warrants in full to purchase 273,212 Class B Ordinary Shares, as adjusted by the Reverse Stock Split, from the Issuer, at a price of $0.05 per Class B Ordinary Share. On May 26, 2026, the Reporting Persons delivered a letter to the Issuer requesting that the Issuer convene an extraordinary general meeting of shareholders in accordance with the Issuer's organizational documents and applicable law (the "Requisition Letter"). The grounds for the Requisition Letter are the Reporting Persons serious and well-founded concerns regarding the independence, governance, and management of the Issuer. The Reporting Person believes a majority of the current board members do not meet the independence requirements of the NASDAQ listing rules. A board that lacks independence from management cannot adequately protect shareholder interests. The board has approved transactions that, in the Reporting Persons view, may constitute a self-dealing transaction, which significantly dilutes existing shareholders for the benefit of Issuer insiders; and the Issuer's shares trade at a significant and unjustified discount to mNAV, a discount that the board's own actions have served to deepen rather than close. The Reporting Person is therefore calling an extraordinary general meeting to replace the current board with directors who are (i) genuinely independent of management and free from financial conflicts, and (ii) subject matter experts qualified to restore the Issuer's performance, close the mNAV gap, and execute the DAT strategy including diversifying from it. The Requisition Letter filed herewith provides further details on these matters. The Reporting Persons continue to expect to evaluate on a continuing basis RBCH Ltd.'s goals and objectives and other business opportunities, and may change plans or proposals in the future. In determining from time to time whether to sell the securities reported as beneficially owned in this Schedule 13D (and in what amounts) or to retain such securities, the Reporting Persons will take into consideration such factors as they deem relevant, including the business and prospects of the Issuer, anticipated future developments concerning the Issuer, existing and anticipated market conditions from time to time, general economic conditions, regulatory matters, and other opportunities available to the Reporting Persons. In addition, the Reporting Persons may, from time to time, transfer shares beneficially owned by them for tax, estate or other economic planning purposes. The Reporting Persons may engage in discussions with management, the Board of Directors, other shareholders, and other relevant parties concerning the Issuer's governance, operations, strategy, capital allocation, performance and alternatives to enhance shareholder value. The Reporting Persons reserve the right to exercise the Common Warrants, dispose of securities of the Issuer or acquire additional securities of the Issuer in the open market, in privately negotiated transactions (which may be with the Issuer or with third parties) or otherwise, to dispose of all or a portion of its holdings of securities of the Issuer.