Company: FSHPU
Filing Date: 2025-07-25
Form Type: PRE 14A
Source: 0001829126-25-005363
Chunk: 24

Company: Flag Ship Acquisition Corp
Filing Date: 2025-07-25
Form: PRE 14A
Chunk 24
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 not more than ten business days thereafter, and subject to having lawfully available funds therefor, redeem 100% of the outstanding Public Shares, at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the trust account and not previously released to the Company to pay taxes, divided by the number of then outstanding Public Shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and the Board, dissolve and liquidate, subject in each case to our obligations under applicable law to provide for claims of creditors and requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to our rights, which will expire worthless in the event the Company winds up.

The Sponsor, officers and directors have waived their rights to liquidating distributions from the Trust Account with respect to their founder shares and private shares if we fail to complete our initial business combination prior to the end of the Combination Period. The Company will pay the costs of liquidation from its remaining assets outside of the Trust Account. If such funds are insufficient, to the extent that there is any interest accrued in the Trust Account not required to pay taxes, we may request the trustee to release to us an additional amount of up to $60,000 of such accrued interest to pay those costs and expenses.

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If the Extension Fee Reduction Proposal is Approved

If the Extension Fee
Reduction Proposal is approved, the Company’s Sponsor would be incentivized to fund additional extensions of the time period
within which the Company must complete its initial business combination. Under the Extension Fee Reduction Proposal, in order for
the Company to effectuate one or more Monthly Extensions after September 20, 2025, the Sponsor and/or its designee would
deposit into the Trust Account the Amended Monthly Extension Fee equal to the lesser of (i) $60,000 for all remaining Public Shares
and (ii) $0.033 for each remaining Public Share for each monthly period until June 20, 2026. The Company will then continue to work to consummate its initial business
combination.

You are not being asked to vote on a business combination at this time. If the Extension Fee Reduction Proposal is approved and you do not elect to