Company: FSHPU
Filing Date: 2025-08-05
Form Type: DEF 14A
Source: 0001829126-25-005812
Chunk: 10

Company: Flag Ship Acquisition Corp
Filing Date: 2025-08-05
Form: DEF 14A
Chunk 10
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 at the Extraordinary General Meeting regarding the Extension Fee Reduction Proposal.

Based upon the amount in the
Trust Account as of July 17, 2025, which was approximately $72,281,179.39, we anticipate that the per-share price at which Public
Shares will be redeemed from cash held in the Trust Account will be approximately $10.47 at the time of the Extraordinary General Meeting.
The closing price of the Company’s Ordinary Shares on the record date was $10.46. Accordingly, if the market price were to remain
the same until the date of the meeting, exercising redemption rights would result in a public shareholder receiving approximately $0.01
more than if the shareholder sold such shares in the open market. However, the actual market price on the redemption date may be higher
or lower than the per share pro rata portion of the Trust Account on such date. Additionally, the Company cannot assure shareholders that
they will be able to sell their Ordinary 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.

The withdrawal of funds from
the Trust Account in connection with the Election (the “Withdrawal Amount”) will reduce the amount held in the Trust Account
following the Election, and the amount remaining in the Trust Account may be only a small fraction of the approximately $72,281,179.39
that was in the Trust Account as of the record date. In such event, we may need to obtain additional funds to complete an initial business
combination, and there can be no assurance that such funds will be available on terms acceptable or at all.

TO DEMAND REDEMPTION, PRIOR TO 5:00 P.M. EASTERN TIME ON AUGUST 22, 2025, TWO BUSINESS DAYS BEFORE THE EXTRAORDINARY GENERAL MEETING, YOU SHOULD ELECT EITHER TO PHYSICALLY TENDER YOUR SHARE CERTIFICATES TO VSTOCK TRANSFER LLC OR TO DELIVER YOUR SHARES TO THE TRANSFER AGENT ELECTRONICALLY USING DTC’S DWAC (DEPOSIT/WITHDRAWAL AT CUSTODIAN), AS DESCRIBED HEREIN. YOU SHOULD ENSURE THAT YOUR BANK OR BROKER COMPLIES WITH THE REQUIREMENTS IDENTIFIED ELSEWHERE HEREIN.

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If the Extension Fee Reduction
Proposal is not approved, the ability to extend the time frame