Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 210

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16
Chunk 210
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 of the Company or the Old Sponsor. The amounts forgiven were
recognized as a capital transaction at October 4, 2023.

On each of October 30, 2023 and November 29, 2023,
the Company deposited $80,000 into the Trust Account to extend the Termination Date to December 27, 2023. From January 4 to September
2024, ten tranches of $78,837, for an aggregate of $788,370 was deposited into the Trust Account by FST pursuant to the Business Combination
Agreement, extending the Termination Date to October 27, 2024.

From November 2024 to December 2024, three tranches
of $106,033, for an aggregate of $318,099 was deposited into the Trust Amount, extending the Termination Date to January 27, 2025.

Nasdaq Notice

On June 15, 2023, the Company received a written
notice from the Listing Qualifications Department (the “ Staff”) of the Nasdaq Stock Market LLC (“ NASDAQ”) indicating
that since the Company’s aggregate market value of its outstanding warrants was less than $1,000,000, the Company was no longer
in compliance with the Nasdaq Global Market continued listing criteria set forth in the Nasdaq Listing Rule 5452(b)(C) (the “ Rule”),
which requires the Company to maintain an aggregate market value of its outstanding warrants of at least $1,000,000 (the “ Notice”).
The Company has been given 45 calendar days from the date of the Notice to submit a plan to regain compliance with the Rule. The Company
did not submit such plan. On August 16, 2023, the Staff notified the Company that NASDAQ determined to commence proceedings to delist
the Company’s Public Warrants, each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share,
and listed to trade on NASDAQ under the symbol “ LATGW”, from NASDAQ and that trading in the Public Warrants would be suspended
at the opening of business on August 25, 2023, due to the Company’s failure to maintain a minimum of $1,000,000 in aggregate market
value of its outstanding warrants for continued listing under NASDAQ Listing Rule 5452(b)(C). The Company did not appeal the Staff’s
delisting determination. As a result, a Form 25-NSE