Company: FSHPU
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001829126-25-001450
Chunk: 1100

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 9B
Chunk 1100
---
 shares and public shares in connection with the
completion of our initial business combination, (ii) to waive their redemption rights with respect to any founder shares, private placement
shares and public shares held by them in connection with a shareholder vote to approve an amendment to our amended and restated memorandum
and articles of association (A) to modify the substance or timing of our obligation to provide for the redemption of our public shares
in connection with an initial business combination or to redeem 100% of our public shares if we have not consummated our initial business
combination within the timeframe set forth therein or (B) with respect to any other provision relating to shareholders’ rights
or pre-initial business combination activity and (iii) to waive their rights to liquidating distributions from the trust account with
respect to their founder shares and private placement shares if we fail to complete our initial business combination within 12 or 15
months from the closing of this offering (or up to 21 or 24 months from the closing of this offering if we extend the period of time
to consummate a business combination, as described in more detail in this prospectus) (although they will be entitled to liquidating
distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination
within the prescribed time frame). If we submit our initial business combination to our public shareholders for a vote, our sponsor has
agreed, pursuant to such letter agreement, to vote their founder shares, private placement shares and any public shares purchased during
or after this offering in favor of our initial business combination.

The
holders of the founder shares, private placement units, and units that may be issued on conversion of working capital loans (and any
securities underlying the private placement units and the working capital loans) are entitled to registration rights pursuant to a registration
rights agreement signed on the effective date of our initial public offering requiring us to register such securities for resale. The
holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities.
In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent
to our completion of our initial business combination and rights to require us to register for resale such securities pursuant to Rule 415
under the Securities Act. We will bear the expenses incurred in connection with the filing of any such registration statements

Proposed
GRT Business Combination

We
have entered into the Merger