Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 34

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 34
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 coverage by securities analysts; •general economic and market conditions; and •other events or factors, including those resulting from war, incidents of terrorism, global pandemics or responses to these events. 17 Future sales of FST Ordinary Shares issued in connection with the Business Combination may cause the market price of FST Ordinary Shares to drop significantly. After the completion of the Business Combination, Chenghe’s shareholders will own a smaller percentage of the Post -ClosingCompany than they currently own in Chenghe. At the Closing, assuming the Company Acquisition Percentage reaching 100% at the consummation of the FST Restructuring and the exercise of all issued and outstanding SPAC Warrants, existing FST shareholders, SPAC unaffiliated Public Shareholders, the Sponsors and their affiliates, and the holders of SPAC Public Warrants are expected to hold approximately 62.11%, 5.78%, 18.22%, and 10.62% of FST’s total share capital, respectively, assuming no redemptions, approximately 63.95%, 3.37%, 18.77% and 10.94% of FST’s total share capital, respectively, assuming holders of 50% of the SPAC Public Shares exercise their redemption rights with respects to their Public Shares for a pro rata share of the funds in the Trust Account, and approximately 64.89%, 1.55%, 19.04% and 11.10% of FST’s total issued and outstanding share capital, respectively, assuming holders of 2,624,539 SPAC Public Shares exercise their redemption rights with respects to their Public Shares for a pro rata share of the funds in the Trust Account so 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 U.S.$5,000,001 net asset at the Closing as required by the 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. Certain existing shareholders of F