---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-26-004888"
form_type: "8-K"
ticker: "FSHP"
cik: "0001850059"
company_name: "Flag Ship Acquisition Corp"
filed_at: "2026-05-11T23:59:59+00:00"
generated_at: "2026-05-14T18:58:32.891285+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001829126-26-004888
- form_type: 8-K
- ticker: FSHP
- cik: 0001850059
- company_name: Flag Ship Acquisition Corp
- filed_at: 2026-05-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1850059/000182912626004888/0001829126-26-004888-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1850059/000182912626004888/flagshipacq_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-26-004888
- JSON: https://secwatch.observer/filing/0001829126-26-004888.json
- Plain text: https://secwatch.observer/filing/0001829126-26-004888.txt

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