How much did FSHP’s sponsor deposit for the first extension and when?

Whale Management Corporation, the sponsor, deposited $51,482 into the Trust Account on June 18, 2026 to fund the first one-month extension. That deposit satisfied the required amount after taking into account the number of ordinary shares remaining outstanding following shareholder redemptions.

Flag Ship Acquisition (FSHP) sponsor funds first SPAC deadline extension

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Flag Ship Acquisition Corporation extended the deadline to complete its initial business combination by one month, moving it from June 20, 2026 to July 20, 2026. The extension follows prior shareholder approval allowing up to twelve monthly extensions through June 20, 2027 if additional funds are deposited into the trust.

Under the trust agreement, each extension requires the sponsor to deposit the lesser of $60,000 or $0.033 per outstanding IPO share into the Trust Account. After 1,507,257 ordinary shares were redeemed at the June 11, 2026 Extraordinary General Meeting, the sponsor, Whale Management Corporation, deposited $51,482 on June 18, 2026 to fund the first extension.

Insights

FSHP’s sponsor funds a routine one-month SPAC life extension.

Flag Ship Acquisition Corporation obtained shareholder approval to use up to twelve one-month extensions to complete a business combination, contingent on monthly deposits into its Trust Account. The first extension moves the deadline from June 20, 2026 to July 20, 2026.

The sponsor must deposit the lesser of $60,000 or $0.033 per outstanding IPO share for each extension. After redemptions of 1,507,257 ordinary shares at the Extraordinary General Meeting, Whale Management Corporation funded the initial extension with a $51,482 deposit.

This action keeps the SPAC active while it continues seeking a target for its initial business combination. Future extensions, up to a final deadline of June 20, 2027, will depend on additional sponsor deposits and any further redemptions disclosed in later filings.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Maximum extensions approved: 12 one-month extensions Final possible deadline: June 20, 2027 Per-extension funding formula: Lesser of $60,000 or $0.033/share +4 more

7 metrics

Maximum extensions approved 12 one-month extensions Amendment to Section 36.2 allowing deadline moves through June 20, 2027

Final possible deadline June 20, 2027 Latest date to consummate initial business combination if all extensions used

Per-extension funding formula Lesser of $60,000 or $0.033/share Sponsor deposit required into Trust Account for each extension

Shares redeemed 1,507,257 ordinary shares Redemptions at June 11, 2026 Extraordinary General Meeting

First extension deposit $51,482 Amount sponsor deposited into Trust Account on June 18, 2026

Original deadline June 20, 2026 Initial deadline to consummate business combination before extension

New deadline after first extension July 20, 2026 Revised deadline after first one-month extension

Key Terms

Trust Account, initial business combination, Extraordinary General Meeting, Emerging growth company, +1 more

5 terms

Trust Account financial

"deposit into the Trust Account an amount equal to the lesser of (i) $60,000"

A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.

initial business combination financial

"extensions of the deadline to consummate its initial business combination, through June 20, 2027"

An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.

Extraordinary General Meeting regulatory

"at the Extraordinary General Meeting of Shareholders of the Company held on June 11, 2026"

Emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Investment Management Trust Agreement financial

"Pursuant to the Investment Management Trust Agreement between the Company and Wilmington Trust"

A written contract that names who will run and make investment decisions for a trust’s assets, spells out their authority, duties, fees and how performance and risks will be handled. It matters to investors because it defines who is responsible for growing and protecting the money—like hiring a caretaker with a clear job description—and sets the rules and safeguards that affect returns, costs and how disputes or withdrawals are resolved.

FAQ

What did Flag Ship Acquisition Corporation (FSHP) change about its merger deadline?

Flag Ship Acquisition Corporation extended the deadline to complete its initial business combination from June 20, 2026 to July 20, 2026. Shareholders had previously approved allowing up to twelve one-month extensions, giving the company more time to identify and close a suitable merger target.

How many extensions can Flag Ship Acquisition Corporation (FSHP) use for its SPAC deadline?

Shareholders approved up to twelve one-month extensions to Flag Ship Acquisition Corporation’s deadline to complete its initial business combination. These extensions can push the outside date to June 20, 2027, provided the sponsor makes required monthly deposits into the Trust Account for each extension.

How is each FSHP extension of the business combination deadline funded?

Each extension requires the sponsor or its affiliates to deposit into the Trust Account the lesser of $60,000 or $0.033 for each outstanding ordinary share sold in the IPO. This funding structure ties the extension cost to the remaining public share count after redemptions.

How many Flag Ship Acquisition (FSHP) shares were redeemed at the Extraordinary General Meeting?

At the June 11, 2026 Extraordinary General Meeting, holders of 1,507,257 ordinary shares of Flag Ship Acquisition Corporation exercised their redemption rights. They received a pro rata portion of the funds held in the Trust Account, reducing the public share count used to calculate extension payments.

What happens to FSHP if it cannot complete a business combination by June 20, 2027?

The filing states that the company may extend its deadline to consummate an initial business combination through June 20, 2027 if monthly deposits are made. Any outcome beyond that date is not described here and would depend on future corporate actions and disclosures.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →

Available on EDGAR 06/25/2026 - 04:30 PM Accepted by SEC EDGAR 06/25/2026 - 04:30 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

June 18, 2026

Date of Report (Date of earliest event reported)

FLAG SHIP ACQUISITION CORPORATION

(Exact Name of Registrant as Specified in Charter)

Cayman Islands		001-42138		00-0000000 N/A
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

26 Broadway, Suite 934

New York, New York 10004

(Address of Principal Executive Offices, and Zip Code)

(646)-362-0256

Registrant’s Telephone Number, Including Area Code

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Units, each consisting of one Ordinary Share, $0.001 par value, and one right	FSHPU	The Nasdaq Stock Market LLC
Ordinary Shares, $0.001 par value	FSHP	The Nasdaq Stock Market LLC
Rights to receive one-tenth (1/10^th) of one Ordinary Share	FSHPR	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01

Other Events.

As previously disclosed, at the Extraordinary General Meeting of Shareholders of the Company held on June 11, 2026 (the “Extraordinary General Meeting”), the shareholders of Flag Ship Acquisition Corporation (the “Company”) approved an amendment to Section 36.2 of the Company’s Amended and Restated Memorandum and Articles of Association, pursuant to which the Company is permitted up to twelve (12) one-month extensions of the deadline to consummate its initial business combination, through June 20, 2027, subject to the Company’s sponsor (or its designee or assignee) depositing additional amounts into the trust account (the “Trust Account”). Pursuant to the Investment Management Trust Agreement between the Company and Wilmington Trust, National Association, as amended, each extension requires that the Company’s sponsor (or its designees or affiliates) deposit into the Trust Account an amount equal to the lesser of (i) $60,000 and (ii) $0.033 for each outstanding ordinary share sold in the Company’s initial public offering. In connection with the shareholder vote at the Extraordinary General Meeting, holders of 1,507,257 ordinary shares of the Company properly exercised their right to redeem their shares for a pro rata portion of the funds held in the Trust Account.

On June 18, 2026, Whale Management Corporation (the “Sponsor”) caused the first such extension payment of $51,482 to be deposited into the Trust Account. As a result, the Company elected to extend the deadline by which it must consummate its initial business combination by one (1) month, from June 20, 2026 to July 20, 2026.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits

EXHIBIT INDEX

Exhibit No.		Description
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

	Flag Ship Acquisition Corporation

Dated: June 25, 2026	By:	/s/ Matthew Chen
	Name:	Matthew Chen
	Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Flag Ship Acquisition (FSHP) sponsor funds first SPAC deadline extension

Rhea-AI Filing Summary

Positive

Negative