Flag Ship Acquisition Corporation Extends Deadline to Consummate Business Combination with Sponsor Deposit

Flag Ship Acquisition Corporation has received $60,000 from its sponsor, Whale Management Corporation, to extend the deadline for consummating a business combination to October 20, 2025. The sponsor plans to extend the period by an additional month. The company's efforts to identify a target business have not been limited to a particular industry or geographic region.

Flag Ship Acquisition Corporation (FSHP), a publicly-traded Special Purpose Acquisition Company (SPAC), has received a $60,000 deposit from its sponsor, Whale Management Corporation, to extend the deadline for consummating a business combination to October 20, 2025. This deposit allows the company to push its deadline back by one month, with the option for additional monthly extensions as needed Flag Ship Acquisition Corporation Announces Deposit to Trust Account to Extend Deadline to Consummate Business Combination^[1].

The extension was made possible by the deposit into Flag Ship's trust account, which is a common practice in SPACs to secure funding for the acquisition process. The company's efforts to identify a suitable target business have not been restricted to any particular industry or geographic region, indicating a broad approach to potential acquisitions Flag Ship Acquisition Corporation Announces Deposit to Trust Account to Extend Deadline to Consummate Business Combination^[1].

The extension of the deadline provides Flag Ship with additional time to find and integrate a suitable business, which is crucial for the success of SPACs. However, it also comes with risks, such as the potential for market conditions to change or for the company to miss out on potential opportunities if the deadline is not met.

For further information, investors and financial professionals are encouraged to contact Matthew Chen, the Chief Executive Officer of Flag Ship Acquisition Corporation, at (212) 884-2667 or via email at mchen@flagshipac.com.