Company: FSHPU
Filing Date: 2025-08-05
Form Type: DEF 14A
Source: 0001829126-25-005812
Chunk: 29

Company: Flag Ship Acquisition Corp
Filing Date: 2025-08-05
Form: DEF 14A
Chunk 29
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 able to sell their Public Shares in the open market, even if the market
price per share is higher than the redemption price stated above, as there may not be sufficient liquidity in its securities when such
shareholders wish to sell their shares.

If you exercise your redemption rights, you will be exchanging your Public Shares for cash and will no longer own such shares. You will be entitled to receive cash for such shares only if you properly demand redemption and tender your share certificate(s) to the Company’s Transfer Agent at least two (2) business days prior to the Extraordinary General Meeting. If the Extension Fee Reduction Proposal is not approved or if they are abandoned, such shares will be returned promptly following the Extraordinary General Meeting as described above.

The Company’s directors, executive officers, its Sponsor, and their respective affiliates have waived their redemption rights with respect to the Extension Fee Reduction Proposal and accordingly are not entitled to redeem the founder shares or ordinary shares underlying the Private Placement Units. In addition, Flag Ship’s directors, executive officers and their affiliates may choose to buy Units or ordinary shares of Flag Ship in the open market and/or through negotiated private purchases. In the event that purchases do occur, the purchasers may seek to purchase shares from shareholders who would otherwise have voted against the Extension Fee Reduction Proposal and elected to redeem their shares for a portion of the Trust Account. Any shares of Flag Ship held by the Sponsor and its affiliates will be voted in favor of the Extension Fee Reduction Proposal.

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Full Text of the Resolution

The resolution to be put to the shareholders to consider and to vote upon at the Extraordinary General Meeting in relation to Extension Fee Reduction Proposal is as follows:

“RESOLVED, as an ordinary
resolution that, in the event that the Company wishes to extend the period of time to consummate a business combination, then for each
one-month extension period implemented after the date of this Extraordinary General Meeting, the fee payable by the Sponsor (and/or a
designee of the Sponsor) into the Trust Account shall be amended from $0.033 per Public Share (for each monthly extension) to an amount
equal to the lesser of (i) $60,000 for all remaining Public Shares and (ii) $0.033 for each remaining Public Share with such amount payable
on or before the 20 calendar day of each month until June 20, 2026 or such later date as may be approved by the Company’s
shareholders, be confirmed, adopted, approved