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Flag Ship Acquisition Corp. operates as a blank-check company formed to pursue a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination. News about FSHPU centers on SPAC security-structure matters, shareholder voting, governance updates and capital-structure disclosures tied to its units, ordinary shares and rights.
Flag Ship Acquisition (Nasdaq: FSHPU) has announced that holders of units from its initial public offering can start separate trading of the underlying securities from August 15, 2024. Each unit consists of one ordinary share and one right to receive one-tenth of a share upon the company's initial business combination.
The units will continue trading on Nasdaq as 'FSHPU', while separated shares and rights will trade under 'FSHP' and 'FSHPR' respectively. To separate units, holders must contact Vstock Transfer , the company's transfer agent.
The initial offering of 6,900,000 units was underwritten by Lucid Capital Markets. A registration statement for these securities (File Number 333-261028) was declared effective by the SEC on June 17, 2024.
Flag Ship Acquisition , a Cayman Islands exempt company, announced the pricing of its $60 million initial public offering (IPO) on June 18, 2024.
The IPO consists of 6,000,000 units at $10.00 per unit. Each unit includes one ordinary share and one right to receive one-tenth of an ordinary share after an initial business combination.
The units will trade on NASDAQ under the ticker symbol 'FSHPU' starting June 18, 2024. The ordinary shares and rights will trade separately under the symbols 'FSHP' and 'FSHPR' respectively after the separation of the units.
Lucid Capital Markets acted as the sole bookrunner for the offering, with Becker & Poliakoff LLP and Kramer Levin Naftalis & Frankel LLP serving as legal counsel. The offering is expected to close on June 20, 2024, subject to customary conditions.