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

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1
Chunk 10
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 2024 and is incorporated herein by reference. The foregoing description
of the Sponsor Voting and Support Agreement does not purport to be complete and is subject to, and is qualified in its entirety by, the
full text of the Sponsor Voting and Support Agreement. 

Amended and Restated Registration Rights Agreement

Pursuant to the Merger Agreement,
GRT, the Company and certain Investors (as defined in the Amended and Restated Rights Registration Agreement), as applicable, will enter
into an Amended and Restated Registration Rights Agreement (“Registration Rights Agreement”), to be effective as of the Closing,
pursuant to which GRT agrees to file a registration statement as soon as practicable upon receipt of a written request from certain shareholders
to register the resale of certain registrable securities under the Securities Act, subject to required notice provisions to other parties
thereto. GRT has also agreed to provide customary “piggyback” registration rights with respect to such registrable securities
and, subject to certain circumstances, to file a resale shelf registration statement to register the resale under the Securities Act of
such registrable securities.

The Registration Rights Agreement also provides that Parent will pay certain expenses relating to such registrations and indemnify the securityholders against certain liabilities. The rights granted under the Registration Rights Agreement supersede any prior registration, qualification, or similar rights of the parties with respect to their Company securities or Parent securities.

The agreed form of the Registration
Rights Agreement was filed as Exhibit 10.4 to our Current Report on Form 8-K filed on October 23, 2024 and is incorporated herein by reference.
The foregoing description of the Registration Rights Agreement does not purport to be complete and is subject to, and is qualified in
its entirety by, the full text of the Registration Rights Agreement.

Business Strategy

Our efforts in identifying prospective target businesses will not be limited to a particular geographic region. However, we will not consider or undertake an initial business combination with any target company the financial statements of which are audited by an accounting firm that the United States Public Company Accounting Oversight Board (the “PCAOB”) is unable to inspect for two consecutive years. We believe that we will add value to these businesses primarily by providing them with access to the U.S. capital markets.

We will seek to capitalize on the strength of our management team. Our team consists of experienced professionals and senior operating executives. Collectively, our officers and directors have decades of experience in mergers and acquisitions, and operating companies. We believe