Company: FSHPU
Filing Date: 2025-03-03
Form Type: 425
Source: 0001829126-25-001402
Chunk: 2

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-03
Form: 425
Chunk 2
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”). This Report does not constitute an offer to sell or the solicitation
of an offer to buy or subscribe for any securities or a solicitation of any vote or approval nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. The proposed transaction will be submitted to the shareholders of GRT and the Company
for their consideration. GRT intends to file with the SEC a registration statement on Form F-4 (as may be amended from time to time, the
“Registration Statement”) that will include a preliminary prospectus with respect to GRT’s Ordinary Shares and ADSs
to be issued in the proposed transaction and a proxy statement of the Company in connection with the merger. After the Registration Statement
is declared effective, the Company will mail a definitive proxy statement/prospectus relating to the transaction to its shareholders as
of a record date to be established for voting on the proposed transaction. The information in the preliminary proxy statement/prospectus
is not complete and may be changed. GRT may not sell the Ordinary Shares referenced in the proxy statement/prospectus until the registration
statement on Form F-4 becomes effective. The registration statement, including the proxy statement/prospectus contained therein, when
declared effective by the SEC, will contain important information about the transaction and the other matters to be voted upon at a meeting
of the Company’s shareholders to be held to approve the transaction and related matters. This Report does not contain all of the
information that should be considered concerning the transaction and other matters and it is not intended to provide the basis for any
investment decision or any decision in respect to such matters. The proxy statement/prospectus will be provided to the Company’s
shareholders. GRT and the Company also plan to file other documents with the SEC regarding the proposed transaction. This Report is not
a substitute for any prospectus, proxy statement or any other document that GRT or the Company may file with the SEC in connection with
the proposed transaction. Investors and security holders are urged to read the proxy statement/prospectus and any other relevant documents
that will be filed with the SEC carefully and in their entirety when they become available because they will contain important information
about the proposed transaction.

You may obtain copies of all documents filed with
the SEC regarding this transaction, free of charge, at the SEC’s website (www.sec.gov). In