Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 45

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 45
---
 to amend the terms of the warrants with the consent of at least 65% of the then outstanding warrants is unlimited, examples of such amendments could be amendments to, among other things, increase the exercise price of the warrants, convert the warrants into cash or shares, shorten the exercise period or decrease the number of FST Ordinary Shares purchasable upon exercise of a warrant. As FST is a “foreign private issuer” and intends to follow certain home country corporate governance practices, its shareholders may not have the same protections afforded to shareholders of companies that are subject to all corporate governance requirements of the Stock Exchange. As a foreign private issuer, FST has the option to follow Cayman Islands law rather than those of the Stock Exchange for certain governance matters, provided that FST discloses the requirements FST is not following and describe the home country practices FST is following. Certain corporate governance practices in the Cayman Islands may differ significantly from corporate governance listing standards, except for general fiduciary duties and duties of care. If FST chooses to follow home country practices in the future, its shareholders may be afforded less protection than they otherwise would have under corporate governance listing standards applicable to U.S. domestic issuers. FST may lose its foreign private issuer status in the future, which could result in significant additional costs and expenses. As discussed above, FST is a foreign private issuer, and therefore, FST is not required to comply with all of the periodic disclosure and current reporting requirements of the Exchange Act. The determination of foreign private issuer status is made annually on the last Business Day of an issuer’s most recently completed second fiscal quarter. In the future, FST would lose its foreign private issuer status if (1) more than 50% of its outstanding voting securities are owned by U.S. residents and (2) a majority of its directors or executive officers are U.S. citizens or residents, a majority of its assets are located in the U.S., or its business is administered principally in the U.S. If FST loses its foreign private issuer status, FST will be required to file with the SEC periodic reports and registration statements on U.S. domestic issuer forms, which are more detailed and extensive than the forms available to a foreign private issuer. FST will also 23 have to mandatorily comply with U.S. federal proxy requirements, and its officers, directors and principal shareholders will become subject to the short -swingprofit disclosure and recovery provisions of Section 16 of the Exchange Act. In addition, FST will