Company: FSHPU
Filing Date: 2025-04-22
Form Type: 8-K
Source: 0001829126-25-002833
Chunk: 1

Company: Flag Ship Acquisition Corp
Filing Date: 2025-04-22
Form: 8-K
Item: Item 1.01
Chunk 1
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 The Company does not believe that the disclosure schedules contain information that is material to an investment decision. Investors
are not third-party beneficiaries under the Merger Agreement and should not rely on the representations, warranties and covenants or any
descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective
subsidiaries or affiliates.

Covenants
and Agreements of the Parties

Each
party agreed in the Merger Agreement to use their commercially reasonable efforts to effect the closing of the transaction contemplated
thereby. The Merger Agreement also contains covenants of the parties during the period between the signing of the Merger Agreement and
the earlier of the Effective Time or the termination of the Merger Agreement, including covenants regarding (1) the operation of their
respective businesses in the ordinary course of business, (2) the provision of access to their books and records, (3) confidentiality,
(4) exclusive dealing, (5) notifications of certain breaches, consent requirements or other matters, (6) efforts to consummate the Merger
and obtain third party and regulatory approvals, and (7) with respect to PubCo, its agreement that it has no claim against the trust account
established for the benefit of the shareholders of the Company.

The
Company also agreed, as promptly as practicable after the date of the Merger Agreement, to file a proxy statement (the “ Proxy
Statement Shareholder Meeting Company Proposals

From
the date of execution of the Merger Agreement through the Closing, the Company shall use all reasonable efforts to remain as a public
company on, and for its securities to be tradable over the Nasdaq Global Market. PubCo shall use all reasonable efforts to apply for a
listing of the PubCo Class A Ordinary Shares on, and for PubCo Class A Ordinary Shares to be tradable over, the Nasdaq Stock Market.

Conditions
to Consummation of the Merger

Consummation
of the transactions contemplated by the Merger Agreement is subject to the satisfaction or waiver by the respective parties of a number
of conditions, including the approval of the Merger Agreement and the transactions contemplated thereby by PubCo’s and the Company’s
respective shareholders. Other closing conditions include, among others: (i) the receipt of necessary consents, approvals and authorizations,
including but not limited to, regulatory approval by Nasdaq and the Securities and Exchange Commission; (ii) the trading of