Company: FSHPU
Filing Date: 2025-04-22
Form Type: 425
Source: 0001829126-25-002834
Chunk: 2

Company: Flag Ship Acquisition Corp
Filing Date: 2025-04-22
Form: 425
Chunk 2
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 18, 2025, Flag Ship entered into an Agreement and Plan of Merger (the “ Merger Agreement”) with Great Future Technology Inc., a Cayman Islands exempted company limited by shares (“ PubCo” or “ Parent”) and GFT Merger Sub Limited, a Cayman Islands exempted company limited by shares and a wholly-owned subsidiary of GFT (“ Merger Sub”). The Merger Agreement replaces and supersedes the GRT Merger Agreement described above.

Pursuant to the Merger Agreement, among other things, the Company will merge with and into Merger Sub (the “ Merger”), with Merger Sub continuing as the surviving entity and a wholly-owned subsidiary of PubCo (the “ Surviving Company”). Immediately upon Closing, the Company and Merger Sub will cause a plan of merger (the “ Plan of Merger”) approved by the directors of each such entity consistent with the Merger Agreement, and in the form and containing such other documents as may be required by the Cayman Companies Act (the “ Merger Documents”) to be executed and then filed for registration by the Cayman Registrar. The Merger will become effective at such time as the Plan of Merger is registered by the Cayman Registrar, or at such other time subsequent thereto, but not exceeding 90 days from the date of registration, as mutually agreed between Merger Sub and the Company and specified in the Plan of Merger (the “ Effective Time”).

At the Effective Time, by virtue of the Merger and without any action of the part of the Company, Merger Sub or any other Person: (i) each of the Company’s ordinary shares (the “ Company Shares”) issued and outstanding immediately prior to the Effective Time, excluding the Excluded Shares and Dissenting Shares (each, as defined below), if any, will be automatically cancelled, extinguished and exchanged for the right to receive, immediately upon consummation the Merger, one (1) Class A ordinary share of PubCo (such shares of PubCo, collectively, “ PubCo Class A Ordinary Shares”) for each such Company Share (the “ Per Share Merger Consideration”); and (ii) each right to receive one-tenth (1/10 th) of a Company Share at the consummation of a business combination of the Company (a “ Company Right”) that is outstanding immediately prior to the Effective Time will be cancelled, extinguished and exchanged for the right to receive, immediately upon the consummation of the