Black Spade Acquisition III closes $172.5M SPAC IPO; $172.5M placed in trust

Black Spade Acquisition III Co

Sold 17.25M units at $10/unit, including full over-allotment, for gross proceeds of $172.5M.
Each unit consists of one Class A ordinary share and one-third of one redeemable warrant at $11.50.
Concurrent private placement of 8.15M warrants at $0.50 each generated $4.075M gross proceeds.
Total of $172.5M deposited into trust account for benefit of public shareholders.
Company has 24 months (or 27 with LOI) to complete a business combination.

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