Flag Ship Acquisition (NASDAQ: FSHPU) extends deal deadline

Rhea-AI Filing Summary

Flag Ship Acquisition Corporation has extended the deadline to complete its initial business combination by one month, moving the date from September 20, 2025 to October 20, 2025. This extension is part of a structure that allows up to nine one-month extensions, giving the company until June 20, 2026 to close a deal, as long as required deposits are made into its trust account.

On September 19, 2025, Whale Management Corporation, the company’s sponsor, deposited an extension fee of $60,000 into the trust account to fund this first one-month extension. The company also issued a press release on September 23, 2025 to announce the new deadline for completing its initial business combination.

Insights

SPAC & capital markets analyst

Flag Ship extends its SPAC deal window by one month with a sponsor-funded deposit.

Flag Ship Acquisition Corporation has used its first one-month extension option to push the deadline for its initial business combination from September 20, 2025 to October 20, 2025. The structure permits up to nine one-month extensions, allowing the company to operate its SPAC through June 20, 2026, provided the sponsor continues to fund the trust.

The sponsor, Whale Management Corporation, deposited an extension fee of $60,000 into the trust account on September 19, 2025 to support this first extension. This keeps investor capital in the trust while giving the SPAC additional time to seek and complete a business combination under its existing framework.

The practical impact now depends on whether the company can announce and close a suitable transaction before or by the final possible extension date. Subsequent extensions, if used, would require additional sponsor deposits on similar terms, which will be reflected in future company disclosures.

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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

September 19, 2025

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 (1/10th) 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.

On August 26, 2025, Flag Ship Acquisition Corporation (the “Company”) elected to extend the date by which it has to consummate its initial business combination by one (1) month, from September 20, 2025 to October 20, 2025, subject to the Company’s sponsor (or its designee) depositing additional funds into the trust account (the “Trust Account”). The Company is permitted a total nine (9) one month extension periods, to June 20, 2026, to complete its initial business combination, subject to the Sponsor depositing additional amounts into the Trust Account. On September 19, 2025, Whale Management Corporation (the “Sponsor”) caused the first monthly extension fee of $60,000 to be deposited into the Trust Account.

On September 23, 2025, the Company issued a press release announcing the first extension of the period of time the Company has to consummate its initial business combination from September 20, 2025 to October 20, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. 

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Item 9.01. Financial Statement and Exhibits.

(d) Exhibits

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release, dated September 23, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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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: September 23, 2025	By:	/s/ Matthew Chen
	Name:	Matthew Chen
	Title:	Chief Executive Officer

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FAQ

What did Flag Ship Acquisition Corporation (FSHPU) announce in this 8-K?

Flag Ship Acquisition Corporation disclosed that it extended the deadline to complete its initial business combination by one month, from September 20, 2025 to October 20, 2025, using the first of its permitted monthly extensions.

How long can Flag Ship Acquisition Corporation (FSHPU) continue extending its SPAC deadline?

The company is allowed a total of nine one-month extension periods, which can move the business combination deadline out to June 20, 2026, as long as the sponsor deposits the required amounts into the trust account for each extension.

How much money was deposited into the trust account for the first extension of FSHPU?

On September 19, 2025, Whale Management Corporation, the sponsor, deposited a $60,000 monthly extension fee into the trust account to fund the extension to October 20, 2025.

Who is the sponsor funding the extension for Flag Ship Acquisition Corporation (FSHPU)?

The sponsor is Whale Management Corporation, which deposited the $60,000 extension fee into the trust account to support the first one-month extension.

What securities of Flag Ship Acquisition Corporation are listed on Nasdaq?

The listed securities include units (each one ordinary share and one right) under symbol FSHPU, ordinary shares under FSHP, and rights to receive one-tenth of one ordinary share under FSHPR.

Did Flag Ship Acquisition Corporation issue a press release about the extension?

Yes. The company issued a press release on September 23, 2025 announcing the first extension of the period to complete its initial business combination, and it is filed as Exhibit 99.1.