Flag Ship Acquisition Corp. Enters Material Definitive Agreement

TL;DR

Flag Ship Acquisition Corp. signed a big deal, creating new financial obligations.

AI Summary

Flag Ship Acquisition Corp. entered into a Material Definitive Agreement on September 3, 2024. This agreement creates a direct financial obligation for the registrant. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant new agreement for Flag Ship Acquisition Corp., potentially impacting its financial obligations and future operations.

Risk Assessment

Risk Level: medium — The creation of a direct financial obligation suggests potential financial commitments and risks for the company.

Key Players & Entities

• Flag Ship Acquisition Corp. (company) — Registrant
• September 3, 2024 (date) — Date of Report and Earliest Event

FAQ

Key Financial Figures

• $0.001 — each consisting of one Ordinary Share, $0.001 par value, and one right FSHPU The
• $1,000,000 — Note") in the principal amount of up to $1,000,000 to Whale Management Corporation ("Whale
• $294,688 — he Company requested a draw of funds of $294,688 from the note for working capital purpo

Filing Documents

• flagship_8k.htm (8-K) — 44KB
• flagship_ex10-1.htm (EX-10.1) — 20KB
• 0001829126-24-006068.txt ( ) — 291KB
• fshpu-20240903.xsd (EX-101.SCH) — 4KB
• fshpu-20240903_def.xml (EX-101.DEF) — 26KB
• fshpu-20240903_lab.xml (EX-101.LAB) — 37KB
• fshpu-20240903_pre.xml (EX-101.PRE) — 25KB
• flagship_8k_htm.xml (XML) — 7KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. The information provided in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.

03. Creation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant Promissory Note On August 30, 2024, Flag Ship Acquisition Corporation (the "Company") issued an unsecured promissory note (the "Note") in the principal amount of up to $1,000,000 to Whale Management Corporation ("Whale"). On August 30, 2024, the Company requested a draw of funds of $294,688 from the note for working capital purposes. The Note bears no interest. The Company shall repay the principal balance on the earlier of: (i) December 31, 2025 or (ii) the date on which Maker consummates its initial business combination (the "Maturity Date"). The principal balance may be prepaid at any time. Once an amount is drawn down under the Note, it shall not be available for future drawdown requests even if prepaid. The Note is subject to customary events of default, the occurrence of certain of which entitles Whale to declare, by written notice to Company, the unpaid principal balance of the Note and all other sums payable with regard to the Note becoming immediately due and payable. The issuance of the Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. A copy of the Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosure set forth in this Item 2.03 is intended to be a summary only and is qualified in its entirety by reference to the Note. 1 Item 9.01. Financial (d) Exhibits EXHIBIT INDEX Exhibit No. Description 10.1 Promissory Note, dated August 30, 2024 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. Flag Ship Acquisition Corporation Dated: September 3, 2024 By: /s/ Matthew Chen Name: Matthew Chen Title: Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR