Flag Ship Acquisition Corporation (FSHPU) Prices $60M IPO


Flag Ship Acquisition Corporation (FSHPU) Prices $60M IPO

Flag Ship announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FSHPU”, Tuesday, June 18, 2024.

The new SPAC aims to combine with a company valued between $200 million and $400 million with strong growth potential and that could stand to benefit from becoming a public company.

Flag Ship’s sponsor team will be led by CEO and Chairman Matthew Chen and CFO Luhuan Zhong. Shan Cui, Pai Liu and Wen He are to serve as Flag Ship’s Board of Directors

Total SPAC deal count for 2024 year-to-date is now 15. This offering is expected to close on Thursday, June 20, 2024.

Lucid Capital Markets is acting as the sole book-running manager for the offering. Becker & Poliakoff LLP is serving as Issuer’s Counsel with Kramer Levin Naftalis & Frankel LLP serving as Underwriter’s Counsel. Marcum Asia CPAs LLP serves as auditor. Wilmington Trust, National Association is acting as trustee.