Flag Ship Receives Nasdaq Notice Over 2025 Form 10-K Non-Compliance Deadline
Flag Ship Acquisition Corp failed to timely file its 2025 Form 10-K and received a Nasdaq notice requiring a compliance plan by June 16, 2026 to avoid delisting. If approved, Nasdaq may grant up to a 180-day extension (until October 12, 2026) to regain compliance.
1. Nasdaq Listing Rule Violation
On April 17, 2026, Flag Ship Acquisition Corp was informed it did not comply with Nasdaq Listing Rule 5250(c)(1) by failing to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
2. Deadline and Extension Provisions
The company has until June 16, 2026 to submit a plan to regain compliance. If Nasdaq approves that plan, it may grant up to 180 calendar days from the original due date, extending the deadline to October 12, 2026.
3. Impact on SPAC Business Combination
While the notice has no immediate effect on the listing of securities, failure to cure the delinquency could jeopardize Flag Ship’s definitive merger agreement with Great Future Technology Inc. and disrupt the SPAC’s transaction timeline.