Flag Ship Acquisition Corp (FSHP): debt financing — Flag Ship shareholders approve reduced extension fee; 3.8M shares redeemed at $10.47

Flag Ship Acquisition Corp

Shareholders approved reduction of monthly extension fee to lesser of $60,000 or $0.033 per share, extending deadline to June 20, 2026.
Holders of 3,837,483 shares redeemed at ~$10.47 per share, totaling ~$40.2M withdrawn from trust.
Promissory note with sponsor amended to increase principal from $1M to $1.2M for working capital.
First monthly extension fee due by September 20, 2025; subsequent fees due by 20th of each month.

item 1.01 item 2.03 item 5.07 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Flag Ship Acquisition Corp amended loan of $1,200,000 with Whale Management Corporation maturing the earlier of: (i) December 31, 2025 or (ii) the date on which the Company consummates its initial business combination.

Instrument: loan
Principal: $1,200,000
Counterparty: Whale Management Corporation
Maturity: the earlier of: (i) December 31, 2025 or (ii) the date on which the Company consummates its initial business combination
Event: amendment

Exact text from the filing

On August 21, 2025, the Company and Whale agreed to amend and restate the Original Note to solely raise the principal balance from $1,000,000 to $1,200,000 (the “Amended Note”).

View on SEC.gov

Browse all debt financings →

Flag Ship Acquisition Corp filing history →

Source: SEC EDGAR

accession 0001829126-25-006779

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.