F
Flag Ship Acquisition Corp
Period
FY 2025
Revenue
—
Net Income
$1.83M
Total Assets
$33.11M
Equity
$-3.16M
Shares Out
5.03M
Op. Cash Flow
$-479.1K
Business
Flag Ship Acquisition Corp is a blank check company incorporated in the Cayman Islands and listed on Nasdaq, formed to identify and execute a business combination with one or more operating businesses. The company completed its initial public offering and placed capital into a trust account. Management intends to seek middle-market growth businesses with strong cash flow generation and revenue growth potential, subject to a deadline to consummate a business combination.
Summary from 10-K filed 2026-05-29
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Formation, general and administrative expenses | −659,064 | −889,298 | −62,399 | |
| Interest and dividends earned in cash and investments held in Trust Account | 2 | 2 | — | |
| Total other income, net | 2 | 2 | — | |
| Income before income taxes | 2 | 909,838 | −62,399 | |
| Income taxes | — | — | — | |
| NET INCOME | 2 | 909,838 | −62,399 | |
| Weighted average shares outstanding, basic | 2 | 2 | — | |
| Weighted average shares outstanding, dilute | 2 | 2 | — | |
| Basic net income per share | 0.24 | 0.17 | — | |
| Diluted net income per share | 0.24 | 0.17 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash | 6,551 | 76,747 | 116,210 | — | |
| Prepayments and deposits | 18,523 | 95,737 | 4,338 | — | |
| Total current assets | 25,074 | 172,484 | 120,548 | — | |
| Cash and investments held in trust account | 33 | 71 | — | — | |
| TOTAL ASSETS | 33 | 71 | 150,548 | — | |
| Accrued liabilities | 17,124 | 34,370 | — | — | |
| Promissory notes related party | 1 | 677,851 | 433,554 | — | |
| Total current liabilities | 1 | 712,221 | 433,554 | — | |
| Deferred underwriting compensation | 2 | 2 | — | — | |
| TOTAL LIABILITIES | 3 | 2 | 433,554 | — | |
| Ordinary shares subject to possible redemption, 3,062,517 and 6,900,000 shares issued and outstanding at redemption value of $10.80 and $10.26 at December 31, 2025 and 2024, respectively | 33 | 71 | — | — | |
| Ordinary shares, $0.001 par value; 50,000,000 shares authorized; 1,963,000 and 1,963,000 shares issued and outstanding (excluding 3,062,517 and 6,900,000 shares, subject to possible redemption as of December 31, 2025 and 2024, respectively) | 1,963 | 1,963 | 1,725 | — | |
| Accumulated deficit | −3 | −2 | −308,006 | — | |
| Total Shareholders deficit | −3 | −2 | −283,006 | −220,607 | |
| TOTAL LIABILITIES AND SHAREHOLDERS DEFICIT | 33 | 71 | 150,548 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Net income | 2 | 909,838 | −62,399 | |
| Deferred offering costs | — | 30,000 | — | |
| Prepayments and deposits | 77,214 | −91,399 | 133 | |
| Accrued liabilities | −17,246 | 34,370 | −4,512 | |
| Due to related party | 120,000 | 40,000 | 0 | |
| Net cash used in operating activities | −479,096 | −876,327 | −66,778 | |
| Cash withdrawn from Trust Account in connection to redemption | 40 | — | — | |
| Proceeds from extension loan deposited into trust account | −240,000 | — | — | |
| Proceeds deposited in Trust Account | — | −69 | — | |
| Net cash provided by (used in) investing activities | 40 | −69 | — | |
| Proceed from public offering, net of offering costs | — | 67 | — | |
| Proceed from private placement | — | 2 | — | |
| Redemption of ordinary shares | −40 | — | — | |
| Proceeds from promissory note related party | 648,900 | 637,851 | — | |
| Repayment of promissory note related party | — | −433,554 | — | |
| Net cash provided by (used in) financing activities | −40 | 70 | 580 | |
| NET CHANGE IN CASH | −70,196 | −39,463 | −66,198 | |
| Initial classification of ordinary shares subject to possible redemption | — | 65 | — | |
| Allocation of offering costs to ordinary shares subject to possible redemption | — | 3 | — | |
| Accretion of carrying value to redemption value | — | 8 | — | |
| Subsequent remeasurement of ordinary shares subject to possible redemption | 2 | 2 | — | |
| Extension funds attributable to ordinary shares subject to redemption | 240,000 | — | — | |
| Accrued underwriting compensation | — | 2 | — |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro
Frequently asked questions
What is Flag Ship Acquisition Corp's CIK number?
Flag Ship Acquisition Corp's SEC CIK number is 0001850059 (1850059). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Flag Ship Acquisition Corp's SEC filings?
All of Flag Ship Acquisition Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.