Company: FSHPU
Filing Date: 2025-04-22
Form Type: 425
Source: 0001829126-25-002834
Chunk: 3

Company: Flag Ship Acquisition Corp
Filing Date: 2025-04-22
Form: 425
Chunk 3
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 Merger, PubCo Class A Ordinary Shares in an amount equal to (in each case, as rounded down to the nearest whole number) the product of (a) the Per Share Merger Consideration, multipliedby (b) the number of Company Shares that the holder of the cancelled Company Right (the “ Company Rights Holder”) would have been entitled to receive from the Company assuming satisfaction of the terms and conditions of such Company Right(the “ Rights Merger Consideration”).

For purposes of this Item 1.01, the term “ Excluded Shares” means Company Shares, if any, held immediately prior to the Effective Time by the Company or PubCo, and the term “ Dissenting Shares” means Company Shares issued and outstanding immediately prior to the Effective Time that are held by any holder who is (a) entitled to dissent to the Merger pursuant to Section 238 of the Cayman Companies Act and (b) properly dissents to the Merger and makes a demand for payment of the fair value of such holder’s shares in accordance with Section 238 of the Cayman Companies Act, and has not withdrawn such dissent.

Merger Consideration

The aggregate consideration payable to pursuant to the Merger Agreement to the shareholders of the Company (“ Company Shareholders”) entitled thereto shall consist of that number of PubCo Class A Ordinary Shares that is equal to (i) the Per Share Merger Consideration multiplied by the number of Company Shares registered in the name of those Company Shareholders immediately prior to the Effective Time, plus (ii) the Rights Merger Consideration, as described above.

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Indemnification Obligations

PubCo is obligated to cause all rights to indemnification and advancement of expenses and all limitations on liability existing in favor of any employee, officer or director of the Company to survive the consummation of the transactions contemplated in the Merger Agreement and continue in full force and effect and be honored by the Surviving Company and PubCo after the Effective Time.

Representation and Warranties

Under the Merger Agreement, PubCo and the Merger Sub (collectively, the “ Group Companies”), on the one hand, and the Company, on the other hand, have each made representations and warranties to each other, including without limitation as to such parties’ corporate powers, capital structure, financial condition, legal activity and compliance, and in the case of each of the Group Companies, its assets, liabilities, properties, taxes, recent operations, contracts, related party