Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 57

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 57
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  for Merger 
 Assuming No 
 Redemptions |   |     |   Adjustment 
   for Merger 
     Assuming 
 Intermediate 
        (50%) 
  Redemptions |   |     |  Adjustment 
  for Merger 
    Assuming 
     Maximum 
     (74.3%) 
 Redemptions |   |
| Weighted average shares of redeemable ordinary share         |     |   3,534,431 |   |     |    3,534,431 |   |     |   3,534,431 |   |
| Weighted average outstanding converted SPAC Public Shares    |     |   1,058,127 |   |     |    1,058,127 |   |     |   1,058,127 |   |
| Weighted average outstanding shares of non-redeemable shares |     |   2,191,873 |   |     |    2,191,873 |   |     |   2,191,873 |   |
| Add: Closing merger consideration payable in shares          |     |  40,000,000 |   |     |   40,000,000 |   |     |  40,000,000 |   |
| Less: shares assumed to be redeemed                          |     |          (0 | ) |     |   (1,767,216 | ) |     |  (2,624,539 | ) |
| Weight average shares                                        |     |  46,784,431 |   |     |   45,017,216 |   |     |  44,159,892 |   |

36 MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS You should read the following discussion and analysis of FST’s financial condition and results of operations in conjunction with the section entitled “Selected Consolidated Financial Data” and FST’s consolidated financial statements and the related notes included elsewhere in this proxy statement / prospectus. This discussion contains forward -looking statements that involve risks and uncertainties. FST’s actual results and the timing of selected events could differ materially from those anticipated in these forward -looking statements as a result of various factors, including those set forth under “Risk Factors” and elsewhere in this proxy statement / prospectus. Company Overview We are a renowned manufacturer and innovator in the golf industry with a growing portfolio of innovative golf products, including acclaimed golf club shafts and