Flag Ship Acquisition enters letter of intent for business combination with Bluechip & Co.

Filed May 11, 2026 · Period ending May 8, 2026 · ~1 min read

Key Changes

• high

  SPAC signed non-binding letter of intent with Cayman Islands-based Bluechip & Co. Holdings on May 8, 2026, establishing framework for potential merger transaction.

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• high

  Transaction remains contingent on due diligence, definitive agreements, board and shareholder approvals, and closing conditions. Company explicitly states no assurance deal will close.

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• medium

  Parties agreed to 90-day exclusive negotiation period, extendable under certain conditions, preventing either side from pursuing alternative deals during this window.

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