Company: FSHPU
Filing Date: 2025-08-05
Form Type: DEF 14A
Source: 0001829126-25-005812
Chunk: 5

Company: Flag Ship Acquisition Corp
Filing Date: 2025-08-05
Form: DEF 14A
Chunk 5
---
 will expire worthless in the event of our winding up. In the event of a liquidation, holders of the Ordinary Shares issued to our Sponsor prior to the IPO (the “Founder Shares” and, together with the Public Shares, the “ordinary shares” or “shares”) will not receive any monies held in the Trust Account as a result of their ownership of Founder Shares or the Ordinary Shares included in the Private Units (the “Private Shares”).

The Adjournment Proposal,
if adopted, will allow our Board to adjourn the Extraordinary General Meeting to a later date or dates if we determine such additional
time is necessary to permit the further solicitation and vote of proxies if there are not sufficient votes to approve Proposal 1 at the
Extraordinary General Meeting. The Adjournment Proposal will only be presented to our shareholders in the event that we determine additional
time is necessary to effectuate the Extension Fee Reduction Proposal.

The approval of the Extension
Fee Reduction Proposal requires an ordinary resolution under the Amended Articles, being a resolution passed by a simple majority of the
votes cast by the shareholders who, being present in person or by proxy and entitled to vote at the Extraordinary General Meeting, vote
at the Extraordinary General Meeting.

The approval of the Adjournment
Proposal requires an ordinary resolution under the amended and restated memorandum and articles of association (the “Amended Articles”),
being a resolution passed by a simple majority of the votes cast by the shareholders who, being present in person or by proxy and entitled
to vote at the Extraordinary General Meeting, vote at the Extraordinary General Meeting.

Our Board has fixed the close
of business on July 17, 2025, as the record date for determining the shareholders entitled to receive notice of and vote at the Extraordinary
General Meeting and any adjournment thereof. Only holders of record of the Ordinary Shares on that date are entitled to have their votes
counted at the Extraordinary General Meeting or any adjournment thereof.

After careful consideration of all relevant factors, our Board has determined that each of the Extension Fee Reduction Proposal and Adjournment Proposal is advisable and recommends that you vote or give instruction to vote “FOR” such proposals.

No other business is proposed to be transacted at the Extraordinary General Meeting.

<div align='center'>3</div>

Enclosed is the Proxy Statement
containing detailed information concerning the Extension Fee Reduction Proposal, the Adjournment Proposal and the Extraordinary General
Meeting. Whether or not you plan