Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 222

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 222
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 Closing, CayCo, the Sponsor, certain shareholder of the Company (the “Company Holders”) listed thereto and certain person listed thereto (the “Sponsor Key Holders”, and together with the Company Holders, the “Holders”) entered into a lock -upagreement (the “Lock -upAgreement”). Pursuant to the Lock -upAgreement, each Holder agrees not to transfer any Lock -UpShares (as defined in the Lock -UpAgreement) for a period of six (6) months after the Closing Date, with certain exceptions and carveouts. At the Closing, the Company, Cayco and other parties listed thereto entered into the Investor Rights Agreement, dated as of January15, 2025. Pursuant to the Investor Rights Agreement, Cayco agreed to undertake certain resale shelf registration obligations in accordance with the Securities Act and certain holders have been granted customary demand and piggyback registration rights. Cayco further agreed to pay certain fees and expenses relating to registrations under the Investor Rights Agreement. The CayCo Ordinary Shares began trading on the Nasdaq Global Market under the symbol “KBSX” on January16, 2025. Other Developments On November6, 2023, pursuant to the Trust Agreement, the Company instructed Continental Stock Transfer & Trust Company to hold all funds in the Trust Account uninvested in an interest -bearingbank deposit account. On November8, 2023, the New Sponsor notified the Company that it elected to convert 1,058,127 Class B ordinary shares held by itself to the same number of Class A ordinary shares, pursuant to the Founder Share Amendment Proposal. On November16, 2023, 1,058,127 Class B ordinary shares held by the New Sponsor were converted into the same number of Class A ordinary shares. As of December31, 2024, there were 4,592,558 Class A ordinary shares (3,534,431shares are subject to possible redemption) and 2,191,873 Class B ordinary shares of the Company, issued and outstanding. F-45 FST LTD.
(FORMERLY CHENGHE ACQUISITION I CO.)
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 AND 2023 NOTE 1 — ORGANIZATION AND BUSINESS OPERATION (cont.) Going Concern As of December31, 2024, the Company had no cash on hand and working capital deficit of $6,951,625. On October