Company: FSHPU
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001829126-25-001450
Chunk: 715

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 5
Chunk 715
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 with a shareholder meeting called to approve the Business Combination
         or (ii) by means of a tender offer. In connection with a proposed Business Combination,
         the Company may seek shareholder approval of a Business Combination at a meeting called
         for such purpose at which shareholders may seek to redeem their shares, regardless
         of whether they vote for or against a Business Combination. The Company will proceed
         with a Business Combination only if the Company has net tangible assets of at least
         $5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder
         approval, a majority of the outstanding shares voted are voted in favor of the Business
         Combination.
       
      If the Company seeks shareholder approval of a Business Combination and it does not
         conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Memorandum and Articles of Association provides that a public
         shareholder, together with any affiliate of such shareholder or any other person with
         whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be
         restricted from seeking redemption rights with respect to 15% or more of the Public
         Shares without the Company’s prior written consent.
       
      If a shareholder vote is not required and the Company does not decide to hold a shareholder
         vote for business or other legal reasons, the Company will, pursuant to its Amended
         and Restated Memorandum and Articles of Association, offer such redemption pursuant
         to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file
         tender offer documents containing substantially the same information as would be included
         in a proxy statement with the SEC prior to completing a Business Combination.
       
      The shareholders will be entitled to redeem their Public Shares for a pro rata portion
         of the amount then in the Trust Account (initially $10.00 per Public Share, subject
         to increase of up to an additional $0.30 per Public Share in the event that the Sponsor
         elects to extend the period of time to consummate a Business Combination (see below),
         plus any pro rata interest earned on the funds held in the Trust Account and not previously
         released to the Company to pay its tax obligations). The per-share amount to be distributed
         to shareholders who redeem their Public Shares will