Company: FSHPU
Filing Date: 2025-07-25
Form Type: PRE 14A
Source: 0001829126-25-005363
Chunk: 7

Company: Flag Ship Acquisition Corp
Filing Date: 2025-07-25
Form: PRE 14A
Chunk 7
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,000 for all outstanding Public Shares and (ii) $0.033 for 
 each outstanding Public Share (the “Amended Monthly Extension Fee”). The first Monthly Extension Fee must be made by               
 September 20, 2025, while each subsequent Monthly Extension Fees must be deposited into the Trust Account by the 20th of           
 each succeeding month until June 20, 2026 (“Proposal 1” or “Extension Fee Reduction Proposal”)                                     
 and                                                                                                                                |

| ● | consider and vote on a proposal                                                                                                   
 to approve by ordinary resolution the adjournment of the Extraordinary General Meeting to a later date or dates, if necessary, to 
 permit the further solicitation and vote of proxies if there are not sufficient votes to approve Proposal 1 (“Proposal            
 2” or the “Adjournment Proposal”).                                                                                                |

Each of the Extension Fee Reduction Proposal and the Adjournment Proposal is more fully described in the accompanying proxy statement. Please take the time to read carefully each of the proposals in the accompanying proxy statement before you vote.

Our amended and restated memorandum and articles of association (the “Amended Articles”) provides that we have 12 months from June 20, 2024 (the closing of our IPO), or 15 months from the closing of the IPO, if we have entered into a business combination agreement within 12 months from the closing of the IPO to consummate our initial business combination (as may be extended, the “Combination Period”). As we have entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Great Future Technology Inc., a Cayman Islands exempted company limited by shares and GFT Merger Sub Limited, on April 18, 2025, our initial Combination Period is through September 20, 2025. However, if we anticipate that we may not be able to consummate our initial business combination within this time period, we may, by resolution of our board of directors (the “Board”) if requested by our Sponsor, extend the period of time to consummate a business combination up to nine times, each by an additional month (for a total of up to 24 months to complete a business combination) (each, a “Monthly Extension”), subject to the Sponsor and/or its designee depositing additional funds into the trust account as set out below.

The Board has determined
that it is in the best interests of the Company to adopt the Extension Fee Reduction Proposal in order to facilitate its ability to
implement Monthly