Company: FSHPU
Filing Date: 2025-07-25
Form Type: PRE 14A
Source: 0001829126-25-005363
Chunk: 19

Company: Flag Ship Acquisition Corp
Filing Date: 2025-07-25
Form: PRE 14A
Chunk 19
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 Sponsor has agreed not to transfer, assign or sell any of the Private Placement Units (except to certain permitted transferees) until (1) with respect to 50% of the founder shares, the earlier of six months after the completion of a business combination and the date on which the closing price of the ordinary shares equals or exceeds $12.50 per share for any 20 trading days within any 30-trading day period commencing after a business combination and (2) with respect to the remaining 50% of the founder shares, six months after the completion of a business combination, or earlier, in either case, if, subsequent to a business combination, the Company completes a liquidation, merger, share exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their ordinary shares for cash, securities or other property. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

As of the record date, there was approximately $72,281,179.39 in the Trust Account.

Our Sponsors, directors and officers have interests in the proposals that may be different from, or in addition to, your interests as a shareholder. These interests include ownership of Founder Shares that may become exercisable in the future and the possibility of future compensatory arrangements.

On the record date of the Extraordinary General Meeting, there were 8,863,000 ordinary shares outstanding. Our Sponsors, officers and directors beneficially own an aggregate of 1,963,000 ordinary shares, consisting of 1,725,000 Founder Shares and 238,000 Private Shares. Such shares represent approximately 23% of our issued and outstanding ordinary shares. The Founder Shares and Private Shares carry voting rights in connection with the Extension Fee Reduction Proposal, and we have been informed by our Sponsors that hold such shares that they intend to vote in favor of the Extension Amendment.

On April 18, 2025, Flag Ship
entered into an Agreement and Plan of Merger (the “”) with Great Future Technology Inc., a
Cayman Islands exempted company limited by shares (“”) and GFT Merger Sub Limited, a Cayman Islands exempted
company limited by shares and a wholly-owned subsidiary of GFT (“”). The GFT Merger Agreement replaces
and supersedes the GRT Merger