Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 55

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 55
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 for cash amounting to $40.29 million would be transferred to shareholders’ equity. Scenario 2 — Intermediate Redemption Scenario reflects the election of holders of 407,442 Public Shares to redeem their Public Shares in connection with the Third Extension Amendment Proposal, and assumes that SPAC Shareholders holding 1,767,215 SPAC Class A Ordinary Shares, representing 50% of 3,534,431 SPAC Class A Ordinary Shares remaining outstanding on the date of this Prospectus, will exercise redemption rights at an assumed share price of US$11.43 in connection with the Business Combination. Under Scenario2, an amount of $20.20 million in the trust account will need to be paid out in cash as redemption proceeds at the closing of the Business Combination, as compared with Scenario 1. Scenario 3 — Maximum Redemption Scenario reflects the election of holders of 407,442 Public Shares to redeem their Public Shares in connection with the Third Extension Amendment Proposal, and assumes that SPAC Shareholders holding 2,624,539 SPAC Class A Ordinary Shares, representing 74.3% of 3,534,431 SPAC Class A Ordinary Shares remaining outstanding on the date of this Prospectus, will exercise their redemption rights at an assumed share price of US$11.43 in connection with the Business Combination. Under Scenario3, a total of $30.00 million in the trust account will need to be paid out in cash as redemption proceeds. The number of Public Shares redeemed under the maximum redemption scenario is calculated based on the assumptions that following the redemption, (i) SPAC will be able to pay total liabilities in the amount of $4.39 million as of June 30, 2024 from the Trust Account at the Closing; (ii) SPAC will be able to pay approximately $1.07 million of estimated transaction expenses incurred in connection with the Business Combination from the Trust Account at the Closing; and (iii) after the payment of liabilities and expenses set forth in (i) and (ii) above, SPAC will have US$5,000,001 net asset at the Closing as required by the SPAC Articles and Business Combination Agreement, which will be distributed immediately to FST at the written instruction of the chief executive officer of FST, and used for working capital and general corporate purposes. Assuming a $11.43 per share redemption price, the number of Public Shares remaining outstanding following the redemption must be at least, 909,892shares for SPAC to fulfill all of