Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 35

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 35
---
ST, the Sponsors and certain holders of SPAC Class B Ordinary Shares will be subject to the Lock -UpAgreement following the Closing. Pursuant to the Lock -UpAgreement, existing FST shareholders, the Sponsors and certain holders of SPAC Class B Ordinary Shares agreed that, during the applicable lock -upperiod, they will not, sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option, right or warrant to purchase or otherwise transfer, dispose of or agree to transfer or dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position or enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of certain FST Ordinary Shares held by existing FST shareholders, the Sponsors and holders of SPAC Class B Ordinary Shares, respectively. See the section of this Prospectus titled “ The Business Combination Agreement and Ancillary Documents — Agreements Entered into in Connection with the Business Combination — Lock -Up Agreement.” Following the Closing, assuming the Company Acquisition Percentage is 100% at the FST Restructuring Closing, a total of 3,534,431 FST Ordinary Shares (assuming no redemptions), a total of 1,767,215 FST Ordinary Shares (assuming intermediate redemptions) and a total of 909,892 FST Ordinary Shares (assuming maximum redemptions) will immediately be freely tradeable. Assuming the Company Acquisition Percentage is 100% at the FST Restructuring Closing, a total of 46,784,431 FST Ordinary Shares (assuming no redemptions) and a total of 45,017,216 FST Ordinary Shares (assuming intermediate redemptions) or a total of 44,159,892 FST Ordinary Shares (assuming maximum redemptions) held by these certain FST shareholders, the Sponsors and their respective affiliates will be freely tradeable after the applicable lock -upperiod. However, depending on the level of redemption of Public Shares in connection with the Business Combination, FST and the Sponsors may consider releasing a portion or all of the FST Ordinary Shares held by the Sponsors, certain FST shareholders, and their respective affiliates (if applicable) from the Lock -UpAgreement to meet the requirement of the relevant stock exchange in relation to the public float, which will result in additional FST Ordinary Shares becoming freely tradeable at the Closing of Business Combination, and potentially