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Flag Ship Acquisition Corporation Announces Entering into a Merger Agreement with Great Rich Technologies Limited and GRT Merger Star Limited
NEW YORK, Oct. 22, 2024 /PRNewswire/ -- Flag Ship Acquisition Corporation (NASDAQ: FSHP) (the "Company" or "Flag Ship"), a publicly-traded special purpose acquisition company (SPAC), announced that it has signed a definitive merger agreement with Great Rich Technologies Limited (KOSDAQ: 900290) ("GRT") and GRT Merger Star Limited ("Merger Sub"). Upon completion of the merger, shareholders of Flag Ship will receive American Depositary Shares ("ADSs") of GRT and Flag Ship will be merged into the Merger Sub, a wholly-owned subsidiary of GRT. Completion of the merger will be subject to customary closing conditions, including that GRT ADSs will be approved to be listed and tradable on Nasdaq.
GRT, a Hong Kong entity, has been in the business of developing and mass producing various optoelectronic products for more than a decade. It is publicly listed in South Korea, and has been pursuing expansion with multiple new factories and production line projects in China in recent years.
GRT, a Hong Kong entity, has been in the business of developing and mass producing various optoelectronic products for more than a decade. It is publicly listed in South Korea, and has been pursuing expansion with multiple new factories and production line projects in China in recent years.
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