Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 113

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 9
Chunk 113
---
ITEM
9. THE OFFER AND LISTING

A. Offer and Listing Details

The
units and Class A ordinary shares of SPAC were listed on the Nasdaq under the symbols “ LATGU” and “ LATG,” and
the warrants of SPAC were listed on the OTC Pink Market under the symbol “ LATGF” prior to the consummation of the Business
Combination. In connection with the Business Combination, holders of 1,754,618 Class A ordinary shares of SPAC sold in its initial
public offering properly exercised their right to have such shares redeemed for a full pro rata portion of the trust account holding
the proceeds from SPAC’s initial public offering, calculated as of the closing date of the Business Combination, or approximately
$118.81 per share and $20,724,552 in the aggregate.

Immediately
after giving effect to the Business Combination, there were 44,766,003 ordinary shares and 7,900,000 warrants outstanding,
each exercisable to purchase one ordinary share at a price of $11.50 per full share. Upon the consummation of the Business Combination,
the units and Class A ordinary shares of SPAC ceased trading on Nasdaq, and the public warrants of SPAC ceased trading on the OTC Pink
Market. The Company’s ordinary shares commenced trading on the Nasdaq Global Market under the symbol “ KBSX” on January
16, 2025.

Lock-Up
Agreement

On
the closing date of the Business Combination, the Company, certain shareholders of Femco (the “ Company Holders”) and certain
other persons (the “ Sponsor Key Holders”, and together with the Company Holders, the “ Holders”) entered into
that certain Lock-up Agreement (the “ Lock-up Agreement”). Pursuant to the Lock-up Agreement, each Holder agrees to not transfer
any Lock-Up Shares (as defined in the Lock-Up Agreement) for a period of six (6) months after the closing date of the Business Combination,
with certain exceptions and carveouts.

Investor
Rights Agreement

On
the closing date of the Business Combination, SPAC, the Company, Femco and other parties entered into that certain Investor Rights Agreement
(the “ Investor Rights Agreement”) pursuant to which, (i) the Company will agree to undertake certain resale shelf registration
obligations in accordance with the Securities Act, and the holders party thereto, subject to certain requirements and customary conditions,
will be granted customary demand and