11.35
+0.27%
Close of 9 Nov 2026, in USD
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About Flag Ship Acquisition
From its filings with the US Securities and Exchange Commission
Flag Ship Acquisition is based in New York, New York. Its shares trade on Nasdaq under the ticker FSHP. The SEC classifies its business as blank checks. In the fiscal year to 31 December 2025, it reported net income of $1.8m. At that date it held total assets of $33.1m and shareholders' equity of −$3.2m.
Flag Ship Acquisition Corporation is a blank check company incorporated on May 14, 2018 as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
The registration statement for our initial public offering was declared effective by the Securities and Exchange Commission on June 17, 2024. We completed our initial public offering on June 20, 2024. In our initial public offering, we sold units at an offering price of $10.00 and consisting of one ordinary share, one right to receive one-tenth (1/10) of an ordinary share upon the consummation of an initial business combination.
In connection with our initial public offering, we sold 6,900,000 units, generating gross proceeds of $69,000,000. Simultaneously with the closing of the IPO, pursuant to the Private Placement Units Purchase Agreement by and between the Company and our sponsor, Whale Management Corporation, a British Virgin Islands company, the Company completed the private sale of an aggregate of 238,000 units (the “Private Placement Units”) to the Sponsor at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to the Company of $2,380,000.
Quoted from its 10-K, filed 29 May 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- N/A
- Industry
- N/A
- Listed since
- 18 Jun 2024
Leadership
Pay as last reported
- Mr. Matthew ChenChairman of the Board, Chief Executive Officer, since 2021
- Mr. Luhuan ZhongChief Financial Officer, Principal Accounting Officer
- Ms. Shan CuiIndependent Director
- Mr. Wen HeIndependent Director
- Mr. Pai LiuIndependent Director
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Headquartered in New York City, a major financial hub.
- IPO completed on 2024-06-18, establishing a public market presence.
- Formed as a blank check company for potential business combinations.
Weaknesses
- No operations have commenced as of the IPO date.
- No revenue has been generated to date.
- Sector and industry classifications are listed as N/A.
Opportunities
- Potential for business combinations with target companies post-IPO.
- Access to public market capital for future acquisitions.
- Opportunity to establish operations and generate revenue after acquisition.
Threats
- Blank check company structure carries inherent risks of failed acquisitions.
- No revenue generation limits current financial stability.
- Lack of sector and industry classification may hinder investor understanding.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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