Karpus Management Significantly Reduces Stake in Flag Ship Acquisition Corp to 0.05%

Karpus Management, Inc. (d/b/a Karpus Investment Management) filed a Schedule 13G/A on June 5, 2026, disclosing a significant reduction in its position in Flag Ship Acquisition Corp (FSHP). As of the event date of May 29, 2026, the reporting person holds 2,482 shares of common stock, representing a 0.05% ownership stake. This is a substantial decrease from its previously reported position of 727,825 shares. Karpus Management, a New York-based registered investment adviser, is a subsidiary of City of London Investment Group plc (CLIG). However, the filing clarifies that Karpus maintains independent voting and investment power through established informational barriers. All reported shares are held directly by accounts managed by Karpus. The filing is an amendment (Amendment No. 3) and indicates that the securities were acquired in the ordinary course of business, without the intent to influence or change the control of the issuer. The reporting person now falls well below the 5% beneficial ownership threshold.