Company: FSHPU
Filing Date: 2025-07-25
Form Type: PRE 14A
Source: 0001829126-25-005363
Chunk: 10

Company: Flag Ship Acquisition Corp
Filing Date: 2025-07-25
Form: PRE 14A
Chunk 10
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 price were to remain the same until the date of the meeting, exercising redemption rights would result in a public shareholder receiving approximately $[__] [more/less] than if the shareholder sold such shares in the open market. However, the actual market price on the redemption date may be higher or lower than the per share pro rata portion of the Trust Account on such date. Additionally, the Company cannot assure shareholders that they will be able to sell their Ordinary Shares in the open market, even if the market price per share is higher than the redemption price stated above, as there may not be sufficient liquidity in its securities when such stockholders wish to sell their shares.

The withdrawal of funds from the Trust Account in connection with the Election (the “Withdrawal Amount”) will reduce the amount held in the Trust Account following the Election, and the amount remaining in the Trust Account may be only a small fraction of the approximately $72,281,179.39 that was in the Trust Account as of the record date. In such event, we may need to obtain additional funds to complete an initial business combination, and there can be no assurance that such funds will be available on terms acceptable or at all.

TO DEMAND REDEMPTION, PRIOR TO 5:00 P.M. EASTERN TIME ON[*] 2025, TWO BUSINESS DAYS BEFORE THE EXTRAORDINARY GENERAL MEETING, YOU SHOULD ELECT EITHER TO PHYSICALLY TENDER YOUR SHARE CERTIFICATES TO VSTOCK TRANSFER LLC OR TO DELIVER YOUR SHARES TO THE TRANSFER AGENT ELECTRONICALLY USING DTC’S DWAC (DEPOSIT/WITHDRAWAL AT CUSTODIAN), AS DESCRIBED HEREIN. YOU SHOULD ENSURE THAT YOUR BANK OR BROKER COMPLIES WITH THE REQUIREMENTS IDENTIFIED ELSEWHERE HEREIN.

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If the Extension Fee
Reduction Proposal is not approved, the ability to extend the time frame to consummate the initial business combination is
contingent upon the Sponsor depositing the required amount of funds for each monthly extension ($0.033 per Public Share). If the
Extension Fee Reduction Proposal is not approved and we do not consummate a business combination by September 20, 2025, as
contemplated by our IPO prospectus and in accordance with our Amended Articles, we will (i) cease all operations except for the
purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter,