Plutux
$11.25
+0.00%
2026-08-27 09:30:00 EDT+$0.00
Financial Services
Shell Companies
NASDAQ
Active Trading

Flag Ship Acquisition Corp. is a blank check company. It was formed for the purpose of effecting a merger, share exchange, asset ...

Price Action

$11.25
+0.00%+$0.00
High
Low
52W High-16.0%
Rel. vol
Interval
Range6.5h
VolumeSMA5SMA10
Flag Ship Acquisition Corporation (FSHPU) is a blank check company, commonly referred to as a SPAC, incorporated in the Cayman Islands on May 14, 2018, and headquartered in New York City. The company was formed with the sole purpose of identifying and completing a business combination with one or more ...Flag Ship Acquisition Corporation (FSHPU) is a blank check company, commonly referred to as a SPAC, incorporated in the Cayman Islands on May 14, 2018, and headquartered in New York City. The company was formed with the sole purpose of identifying and completing a business combination with one or more target businesses. As a SPAC, it does not have significant operations of its own and holds funds raised through its initial public offering (IPO) in a trust account until a merger or acquisition is executed. The company went public on June 18, 2024, on the NASDAQ exchange, pricing its IPO of 6,000,000 units (each unit consisting of one ordinary share and one right) at $10.00 per unit, raising approximately $69 million. The CEO is Matthew Chen, who has experience in the SPAC space, previously serving as CEO and CFO of Longevity Acquisition Corporation. The company's strategy is to seek growth businesses with an enterprise value between $200 million and $400 million, focusing on sectors such as technology, healthcare, and financial services. As of the latest data, the company has only 2 full-time employees, typical for a SPAC. Financially, FSHPU has minimal revenue, with its main assets being the cash held in trust. The market capitalization is approximately $110.6 million, with a price per share of $11.19. The company has engaged in merger discussions; notably, in October 2024, it entered into a merger agreement with Great Rich Technologies Limited and GRT Merger Star, and in April 2025, it signed an agreement with Great Future Technology Inc. However, as of mid-2026, the company has not yet completed a business combination, and there are indications of potential challenges, such as a notice from NASDAQ regarding listing compliance. The company's future depends on successful completion of a merger, which would transform it into an operating entity. The management team, led by Matthew Chen, continues to seek suitable targets to deliver value to shareholders.
Founded
2018
Employees
2
CEO
Matthew Chen
Full Name
Flag Ship Acquisition Corporation
Sector
Financial Services
Industry
Shell Companies
ROE
3.90%
Market Cap
$0.11B
Current Ratio
0.00
ROIC
3.12%

Contact Information

917-267-4567
26 Broadway, New York City, NY 10004

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