Flag Ship Acquisition increases promissory note to $2M, extends maturity to Dec 31, 2026

Flag Ship Acquisition Corp

Second amended note raises principal from $1.2M to $2M, originally $1M in Aug 2024.
Maturity date now earlier of December 31, 2026 or consummation of initial business combination.
Note is unsecured, non-interest bearing, from Whale Management Corporation.
Drawdowns up to $2M for operational costs and business combination expenses; min $10K per request.
Payee waives any claim against the trust account established from IPO proceeds.

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 debt of from $1,200,000 to $2,000,000 with Whale Management Corporation maturing earlier of: (i) December 31, 2026 or (ii) the date on which the Company consummates its initial business combination.

Principal: from $1,200,000 to $2,000,000
Counterparty: Whale Management Corporation
Maturity: earlier of: (i) December 31, 2026 or (ii) the date on which the Company consummates its initial business combination
Event: amendment

Exact text from the filing

On January 28, 2026, the Company and Whale agreed to amend and restate the Amended Note (the “Second Amended Note”). to raise the principal balance from $1,200,000 to $2,000,000 and extend the maturity date thereof to be the earlier of: (i) December 31, 2026 or (ii) the date on which the Company consummates its initial business combination.

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Source: SEC EDGAR

accession 0001829126-26-000772

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