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Flag Ship Acquisition (NASDAQ: FSHP), a SPAC, has announced a definitive merger agreement with Great Rich Technologies (KOSDAQ: 900290) and GRT Merger Star Upon completion, Flag Ship shareholders will receive American Depositary Shares (ADSs) of GRT, and Flag Ship will merge into GRT's subsidiary. The merger is subject to conditions, including GRT ADSs being approved for Nasdaq listing.
GRT, a Hong Kong-based company listed in South Korea, specializes in optoelectronic products. The transaction aims to provide value to Flag Ship shareholders and support GRT's global expansion. The merger consideration involves exchanging Flag Ship shares and rights for GRT Ordinary Shares, payable in GRT ADSs. Closing conditions include shareholder approvals and Nasdaq listing approval for GRT ADSs.
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