[144] Boston Scientific Corp. SEC Filing

Rhea-AI Filing Summary

Flag Ship Acquisition Corp. (FSHPU) has filed a preliminary Schedule 14A seeking shareholder approval for two items at an extraordinary meeting targeted for 2025:

• Proposal 1: cut the SPAC’s monthly extension payment to the trust from the current $0.033 per public share to the lesser of (i) $60,000 in total or (ii) $0.033 per share. Payments would be due on the 20th of each month starting September 20 2025 and may be made up to June 20 2026 (nine one-month extensions).
• Proposal 2: allow adjournment of the meeting if votes are insufficient for Proposal 1.

The SPAC raised $69.0 million in its June 20 2024 IPO; including interest, the trust held approx. $72.3 million as of the July 17 2025 record date. There are 8,863,000 ordinary shares outstanding, of which insiders own 1,963,000 (≈23%).

FSHP entered into a merger agreement on April 18 2025 with Great Future Technology Inc. (GFT). The current deadline to close a business combination is September 20 2025. Without extensions—or if Proposal 1 fails and the sponsor declines to fund at the higher rate—the SPAC must liquidate and redeem public shares.

Public shareholders may redeem regardless of their vote; redemption price will equal the pro-rata trust balance (≈$10.47 per share based on the latest trading price) and must be tendered two business days before the meeting.

The board unanimously recommends voting “FOR” both proposals, citing the reduced fee as an incentive for the sponsor to fund extensions and preserve the opportunity to consummate the GFT deal.

Positive

• Enhanced deal certainty: Reduced fee makes it financially feasible for the sponsor to fund all nine one-month extensions, extending the merger deadline to June 20 2026.
• Shareholder flexibility: Public holders retain redemption rights now and at the future business-combination vote.
• Trust still substantial: Approximately $72.3 million ($10.47/share) available as of record date, providing solid liquidation floor.

Negative

• Lower cash inflow per extension: Maximum $60k monthly deposit is below the current $0.033/share requirement, modestly reducing per-share trust value over time.
• High redemption risk: Significant withdrawals could leave only a fraction of the trust, forcing additional capital raises to complete the GFT merger.
• Sponsor conflicts: Insiders’ 23% stake and founder-share economics may misalign incentives with public shareholders.

Insights

SPAC Analyst

TL;DR: Lowering the extension fee boosts odds of closing the GFT merger but slightly weakens cash per share.

Impact: Material yet mildly dilutive. Cutting the fee to a flat $60k (≈$0.0068 per share if no redemptions) reduces monthly cash inflow versus the current $0.033 mandate, but it also makes it far more affordable for the sponsor to fund nine additional months (max $540k vs. ≈$2.6 m). That increases probability of securing shareholder approval and completing the GFT merger, preserving optionality for holders. Risk: High redemptions could shrink the trust below $72.3 m, requiring external financing. Shareholders face opportunity cost if liquidation value falls slightly over time.

Governance & Risk Specialist

TL;DR: Proposal highlights sponsor conflicts and possible dilution, but liquidation risk is higher if it fails.

The sponsor owns ≈23% of shares and stands to lose its founder stake on liquidation, so its support is expected. Lower contributions lessen alignment with public holders, yet the alternative—no extension and forced wind-up—would terminate the GFT deal and trigger redemption anyway. Investors must weigh a modest reduction in trust accretion against upside from a successful merger.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Pershing Advisor Solutions 1 Pershing Plaza Jersey City NJ 07399	4000	429840.00	22479	07/25/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/09/2017	RSU Granted Shares	Edward J. Ludwig			4000	01/09/2017	Net Settlement

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Edward J. Ludwig 590 Admiralty Parade W Naples FL 34102	Boston Scientific	05/29/2025	4000	418363.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is Flag Ship Acquisition Corp. (FSHPU) asking shareholders to approve?

Proposal 1 cuts the monthly extension payment to the trust to the lesser of $60,000 or $0.033 per share; Proposal 2 allows adjournment if votes are lacking.

How much money is currently in FSHPU’s trust account?

About $72.28 million including interest as of July 17 2025.

What happens if Proposal 1 fails?

The sponsor must fund extensions at the higher $0.033/share rate or the SPAC will be forced to liquidate on Sept 20 2025.

When is the redemption deadline for public shareholders?

Share certificates must be tendered (physically or via DWAC) by 5 p.m. ET two business days before the meeting date.

How many extensions are possible if the fee reduction is approved?

Up to nine one-month extensions, potentially moving the deadline to June 20 2026.

Does this vote concern the merger with Great Future Technology Inc.?

No. The business-combination vote will be held later; this proxy only addresses the extension-fee reduction and possible adjournment.