Company: FSHPU
Filing Date: 2025-07-25
Form Type: PRE 14A
Source: 0001829126-25-005363
Chunk: 11

Company: Flag Ship Acquisition Corp
Filing Date: 2025-07-25
Form: PRE 14A
Chunk 11
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 redeem the Public
Shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account established by the
Company upon the consummation of the IPO and into which certain amount of the net proceeds of the IPO, together with certain of the
proceeds of a private placement of units simultaneously with the closing date of the IPO (the “Private Placement”, such
units the “Private Placement Units”, the Private Placement Units collectively with the Public Units the
“units”), was deposited, including interest earned on the funds held in the Trust Account and not previously released to
us to pay our taxes (less up to $50,000 of interest to pay dissolution expenses and net of taxes payable), divided by the number of
the then outstanding Public Shares, which redemption will completely extinguish the rights of the holders of Public Shares (the
“Public Shareholders”) as shareholders (including the right to receive further liquidation distributions, if any); and
(iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our
Board, liquidate and dissolve, subject in each case to its obligations under Cayman Islands law to provide for claims of creditors
and to the other requirements of applicable law.

There will be no redemption rights or liquidating distributions with respect to our rights, each of which will automatically convert into one-tenth of one ordinary share upon consummation of a business combination (“rights”), which rights will expire worthless in the event of our winding up. In the event of a liquidation, holders of our Ordinary Shares issued prior to the IPO (the “Founder Shares”, and such Founder Shares collectively with the Public Shares the “ordinary shares” or “shares”), will not receive any monies held in the Trust Account as a result of their ownership of Founder Shares or the Ordinary Shares included in the Private Units (the “Private Shares”).

The Adjournment Proposal, if adopted, will allow our Board to adjourn the Extraordinary General Meeting to a later date or dates if necessary to permit the further solicitation and vote of proxies if there are not sufficient votes to approve Proposal 1.

The approval of the Extension Fee Reduction Proposal requires an ordinary resolution under the Articles, being a resolution passed by a simple majority of the votes cast by the shareholders who, being present in person (including virtually) or by proxy and entitled to vote at the Extraordinary General Meeting, vote at the Extraordinary General Meeting.

The approval of the Adjourn