Flag Ship Acquisition in an amended S-1 filing said it will now offer 6 million units at $10 each, down from the 10 million units initially regsitered with the SEC in November 2021.
A unit still consists of one ordinary share, one right to receive one-tenth of a share upon the completion of a merger, and a warrant.
Management has significant ties to mainland China, according to the filing, which includes extensive caveats about potential business combinations with companies based in the country.
Flag Ship intends to target middle market growth companies with an enterprise value between $200 million and $400 million.
CEO and Director Matthew Chen has served as managing director of Darong Hechuag International Investment since May 2022. Chen was also chairman and CEO of Longevity Acquisition, which combined with 4D Pharma in March 2021.
Flag Ship has applied to list on the Nasdaq under the symbol FSHPU. Read more.
