---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-24-004438"
form_type: "8-K"
ticker: "FSHP"
cik: "0001850059"
company_name: "Flag Ship Acquisition Corp"
filed_at: "2024-06-26T23:59:59+00:00"
generated_at: "2026-06-01T01:53:57.791773+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Flag Ship Acquisition closes $69M IPO; auditor flags going concern doubt

## Summary
- IPO of 6.9M units at $10/unit raises $69M gross; private placement of 238K units adds $2.38M.
- Trust account holds $69M as of June 20, 2024; $413K released for working capital on June 24.
- Company has 12 months to complete business combination (15 if deal signed); auditor expresses substantial doubt about going concern.
- Transaction costs total $3.45M ($1.38M underwriting, $1.73M deferred, $343K other).

## SEC filing metadata
- accession: 0001829126-24-004438
- form_type: 8-K
- ticker: FSHP
- cik: 0001850059
- company_name: Flag Ship Acquisition Corp
- filed_at: 2024-06-26T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1850059/000182912624004438/0001829126-24-004438-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1850059/000182912624004438/flagship_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-24-004438
- JSON: https://secwatch.observer/filing/0001829126-24-004438.json
- Plain text: https://secwatch.observer/filing/0001829126-24-004438.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.