Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 28, 2026, Flag Ship Acquisition Corp. (the "Company") received notice from The Nasdaq Stock Market LLC ("Nasdaq") that Nasdaq had approved the Company's application to transfer the listing of the Company's ordinary shares, units and rights (collectively, the "Securities") from The Nasdaq Global Market to The Nasdaq Capital Market. The Securities are expected to begin trading on The Nasdaq Capital Market at the opening of business on September 2, 2026. The Securities are expected to continue trading under the symbols "FSHP," "FSHPU" and "FSHPR," respectively.

The Company voluntarily applied to transfer the listing of the Securities to The Nasdaq Capital Market in order to facilitate its compliance with the applicable Nasdaq listing standards. The transfer does not affect the registration of the Securities under the Securities Exchange Act of 1934, as amended, and the Company will remain subject to the periodic reporting requirements of the Securities Exchange Act of 1934, as amended.