---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-26-000772"
form_type: "8-K"
ticker: "FSHP"
cik: "0001850059"
company_name: "Flag Ship Acquisition Corp"
filed_at: "2026-01-30T23:59:59+00:00"
generated_at: "2026-05-16T06:05:14.979482+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001829126-26-000772
- form_type: 8-K
- ticker: FSHP
- cik: 0001850059
- company_name: Flag Ship Acquisition Corp
- filed_at: 2026-01-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1850059/000182912626000772/0001829126-26-000772-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1850059/000182912626000772/flagshipacq_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-26-000772
- JSON: https://secwatch.observer/filing/0001829126-26-000772.json
- Plain text: https://secwatch.observer/filing/0001829126-26-000772.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1850059/000182912626000772/0001829126-26-000772-index.htm

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