Flag Ship Acquisition Corporation
FSHPR
NASDAQ Global Market0.08
USD
+0.00
- -
CIK
0001850059
ISIN
KYG3530C1179
CUSIP
G3530C117
Return %
Stock
S&P500
1Y
-35.16
18.02
3Y
-35.00
64.11
5Y
-35.00
72.15
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Matthew Chen
- Full Time Employees
- 2
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 26 Broadway New York City NY United States of America 10016
- IPO Date
- Jun 18, 2024
- CIK
- 0001850059
- Website
- flagshipacquisition.com
- Similar Companies
- Business
- Flag Ship Acquisition Corporation is a special purpose acquisition company (SPAC) founded in 2018 and headquartered in New York, New York. The company is formed primarily to effect a merger, capital stock exchange, asset acquisition, share reconstruction, or similar business combination with one or more businesses or entities, without limitation to industry or geography. As a blank check company, it does not manufacture or sell products directly but focuses on identifying and acquiring target businesses. Flag Ship Acquisition Corporation's latest major development is its entry into a definitive merger agreement with Great Rich Technologies Limited (GRT), a company specializing in optoelectronic products, aiming to create value through the combination and positioning the merged entity for Nasdaq listing. The transaction involves Flag Ship merging into a wholly-owned subsidiary of GRT, with existing Flag Ship shareholders receiving American Depositary Shares of GRT upon completion. This strategic alliance highlights Flag Ship's focus on growth through mergers and acquisitions in the technology sector. The merger deadline was extended to August 28, 2025, to allow for the satisfaction of closing conditions. Additionally, Flag Ship terminated a previous merger agreement with Great Rich Technologies and subsequently entered a new merger agreement with Great Future Technology Inc., a Cayman Islands-based entity, indicating ongoing strategic maneuvering to optimize business combination opportunities. Flag Ship Acquisition Corporation operates within the blank check and merger acquisition industry segment, targeting middle-market growth companies with potential for public market access through its SPAC vehicle. It is sponsored by Whale Management Corporation and trades on the Nasdaq under the ticker FSHP. The company’s geographic operations are primarily in the US capital markets with strategic target acquisition interests extending to global markets, particularly in Asia through its engagement with companies like Great Rich Technologies. Flag Ship's core business revolves around facilitating business combinations that provide public market access and growth capital to its targets.