Flag Ship Acquisition Corporation Announces Entering Into A Merger Agreement With Great Rich Technologies Limited And GRT Merger Star Limited; Shareholders Of Flag Ship Will Receive American Depositary Shares Of GRT And Flag Ship Will Be Merged Into The Merger Sub, A Wholly-Owned Subsidiary Of GRT
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Flag Ship Acquisition Corporation (NASDAQ: FSHP) has entered into a merger agreement with Great Rich Technologies Limited (KOSDAQ: 900290) and GRT Merger Star Limited. Upon completion, Flag Ship shareholders will receive American Depositary Shares of GRT, and Flag Ship will merge into a wholly-owned subsidiary of GRT. The merger is subject to customary closing conditions, including the listing of GRT ADSs on Nasdaq.
October 22, 2024 | 12:08 pm
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Flag Ship Acquisition Corporation has announced a merger with Great Rich Technologies. Shareholders will receive GRT ADSs, and Flag Ship will merge into a subsidiary of GRT. The merger is contingent on GRT ADSs being listed on Nasdaq.
The merger is a significant event for FSHP as it involves a complete merger into a subsidiary of GRT. The transaction is expected to provide value to FSHP shareholders through the receipt of GRT ADSs. The successful listing of GRT ADSs on Nasdaq is a key condition for the merger, which could positively impact FSHP's stock price in the short term.
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