Company: FSHPU
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001829126-25-001450
Chunk: 317

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1A
Chunk 317
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 within
         the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 180 days or less, or in
         any open-ended investment company that holds itself out as a money market fund meeting
         the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier
         of: (i) the consummation of a Business Combination or (ii) the distribution of the
         funds in the Trust Account to the Company’s shareholder, as described below.
       
      The Company will provide its shareholders with the opportunity to redeem all or a
         portion of their Public Shares upon the completion of a Business Combination either
         (i) in connection with a shareholder meeting called to approve the Business Combination
         or (ii) by means of a tender offer. In connection with a proposed Business Combination,
         the Company may seek shareholder approval of a Business Combination at a meeting called
         for such purpose at which shareholders may seek to redeem their shares, regardless
         of whether they vote for or against a Business Combination. The Company will proceed
         with a Business Combination only if the Company has net tangible assets of at least
         $5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder
         approval, a majority of the outstanding shares voted are voted in favor of the Business
         Combination.
       
      If the Company seeks shareholder approval of a Business Combination and it does not
         conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Memorandum and Articles of Association provides that a public
         shareholder, together with any affiliate of such shareholder or any other person with
         whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be
         restricted from seeking redemption rights with respect to 15% or more of the Public
         Shares without the Company’s prior written consent.
       
      If a shareholder vote is not required and the Company does not decide to hold a shareholder
         vote for business or other legal reasons, the Company will, pursuant to its Amended
         and Restated Memorandum and Articles of Association, offer such redemption pursuant
         to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file
         tender offer documents containing