Flag Ship SPAC signs LOI to acquire Bluechip at $300M-$400M implied valuation

Flag Ship Acquisition Corp

Binding LOI signed with Bluechip & Co. Holdings; 100% equity acquisition through share exchange or merger.
Bluechip's implied equity valuation expected between $300M and $400M based on preliminary discussions.
90-day mutual exclusivity period for due diligence and negotiation of definitive agreement.
Bluechip operates cross-border insurance referral services and U.S. capital markets advisory.
No definitive agreement yet; transaction subject to due diligence, board and shareholder approval.

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