Flag Ship Acquisition Corp 8-K

What Happened
Flag Ship Acquisition Corp (FSHP) reported that on May 21, 2026 it received an additional deficiency letter from the Nasdaq Listing Qualifications Department because it has not timely filed its Form 10-Q for the quarter ended March 31, 2026. The company remains delinquent in filing its Form 10-K for the year ended December 31, 2025 (initial Nasdaq deficiency notice was disclosed April 22, 2026). FSHP issued a press release about the May 21 notice on May 27, 2026.

Key Details

• Nasdaq issued the additional deficiency notice on May 21, 2026 for failure to file the Form 10-Q (quarter ended March 31, 2026).
• The company is still delinquent on its Form 10-K for the year ended December 31, 2025; the initial deficiency notice was received April 22, 2026.
• Under Nasdaq Listing Rule 5250(c)(1), FSHP must submit a plan to regain compliance within 60 days of the initial deficiency notice; if accepted, Nasdaq may extend the filing deadline up to 180 days from the original due date (until October 12, 2026).
• The notice does not have an immediate effect on the listing of FSHP’s ordinary shares; the company says it is working to complete and file the required reports but provides no assurance it will regain compliance.

Why It Matters
Late SEC filings trigger Nasdaq compliance procedures that can ultimately risk a company’s continued listing if not resolved. For investors, the delinquent Form 10-K and Form 10-Q mean up-to-date audited financials and quarterly results are not available, increasing uncertainty about the company’s financial condition and performance until the reports are filed.