---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-25-006779"
form_type: "8-K"
ticker: "FSHP"
cik: "0001850059"
company_name: "Flag Ship Acquisition Corp"
filed_at: "2025-08-27T23:59:59+00:00"
generated_at: "2026-05-17T09:47:29.773030+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Flag Ship shareholders approve reduced extension fee; 3.8M shares redeemed at $10.47

## Summary
- 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- Holders of 3,837,483 shares redeemed at ~$10.47 per share, totaling ~$40.2M withdrawn from trust.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.

## SEC filing metadata
- accession: 0001829126-25-006779
- form_type: 8-K
- ticker: FSHP
- cik: 0001850059
- company_name: Flag Ship Acquisition Corp
- filed_at: 2025-08-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1850059/000182912625006779/0001829126-25-006779-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1850059/000182912625006779/flagshipacq_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-006779
- JSON: https://secwatch.observer/filing/0001829126-25-006779.json
- Plain text: https://secwatch.observer/filing/0001829126-25-006779.txt

## Key facts
- Debt Financings
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1850059/000182912625006779/0001829126-25-006779-index.htm

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