Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 220

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16
Chunk 220
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 Per Share.” The Company has two classes of ordinary shares, which are referred
to as Class A and Class B. Income and losses are shared pro rata between the two classes of shares. Net (loss) income per ordinary share
is calculated by dividing the net (loss) income by the weighted average number of ordinary shares outstanding for the respective period.
The Company did not consider the effect of the warrants issued in connection with the IPO and the private placement in the calculation
of diluted (loss) income per ordinary share because their exercise is contingent upon future events. As a result, diluted net (loss) income
per ordinary share is the same as basic net (loss) income per ordinary share. Remeasurement associated with the redeemable Class A ordinary
shares is excluded from (loss) income per ordinary share as the redemption value approximates fair value.

The table below presents a reconciliation of the
numerator and denominator used to compute basic and diluted net income per share for each class of ordinary shares:

                                                     For the Year Ended                                                          For the Year Ended                                
                                                     December 31, 2024                                                           December 31, 2023                                 
                                                     Redeemable                              Non-redeemable                      Redeemable                                        
                                                                                             Class A                                                                               
                                                     Class A                                 and Class B                         Class A                                           
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Basic and diluted net income per share:                                                                                                                                          
  Numerator:                                                                                                                                                                       
  Allocation of net (loss) income                    $                       (1,803,942      $                   (1,514,257      $                         297,384        128,528  
  Denominator:                                                                                                                                                                     
  Weighted average shares outstanding                                         3,871,740                           3,250,000                              7,519,729      3,250,000  
  Basic and diluted net (loss) income per share      $                            (0.47      $                        (0.47      $                            0.04           0.04  

Offering Costs associated with the IPO

The Company complies with the requirements of
ASC 340-10-S99-1, SEC Staff Accounting bulletin Topic 5A - “ Expenses of Offering”, and SEC Staff Accounting bulletin
Topic 5T - “ Accounting for Expenses or Liabilities Paid by Principal Stockholder(s)”. Offering costs consist principally
of professional and registration fees incurred through the balance sheet date