Company: FSHPU
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001829126-25-003624
Chunk: 126

Company: Flag Ship Acquisition Corp
Filing Date: 2025-05-13
Form: 10-Q
Item: Part II, Item 2
Chunk 126
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ed in connection
with a shareholder vote to amend our amended and restated memorandum and articles of association to (A) modify the substance or timing
of its obligation to redeem 100% of our public shares if we do not complete our initial business combination within 12 months or 15 months
from the closing of the IPO (or up to 21 months or 24 months from the closing of the IPO if we extend the period of time to consummate
a business combination), or (B) with respect to any other provision relating to shareholders’ rights or pre-business combination
activity, and (iii) the redemption of our public shares if we are unable to complete our initial business combination within 12 months
or 15 months from the closing of the IPO (or up to 21 months or 24 months from the consummation of the IPO if we extend the period of
time to consummate a business combination).

For a description of the use of the proceeds generated in our Initial Public Offering, see Part I, Item 2 of this Quarterly Report.

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ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

During the quarter ended March 31, 2025, no director or officer adopted or terminated any
(i) “Rule 10b5-1 trading arrangement,” as defined in Item 408(a) of Regulation S-K intending to satisfy the affirmative defense
conditions of Rule 10b5–1(c) or (ii) “non-Rule 10b5-1 trading arrangement,” as defined in Item 408(c) of Regulation
S-K.

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ITEM 6. EXHIBITS.

The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.

    No.
     
    Description of Exhibit
  
    2.1 †
     
    Merger Agreement, dated April 18, 2025, by and among Flag Ship Acquisition Corporation, Great Future Technology Inc., and GFT Merger Sub Limited (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed on April 22, 2025).
  
    10.1
     
    Parent Shareholder Lock-Up and Support Agreement, dated April 18, 2025, by and among Flag Ship Acquisition