Company: FSTWF
Filing Date: 2025-07-22
Form Type: F-1/A
Source: 0001213900-25-066660
Chunk: 219

Company: FST Corp.
Filing Date: 2025-07-22
Form: F-1/A
Chunk 219
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) 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 October6, 2023, the Company transferred cash balance of $428,000 from its bank account controlled by the Old Sponsor to an account controlled by the New Sponsor, as the new bank account of the Company under the control of the New Sponsor has not been set up yet. In January 2024, the Company set up a new bank account under control of the New Sponsor, as of the date hereof, no cash was deposited in the new bank account. The Company’s liquidity needs prior to the IPO had been satisfied through