secwatch.observer — SEC 8-K summary
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Issuer:     Black Spade Acquisition III Co (BIII)
CIK:        0002087087
Form:       8-K/A
Filed at:   2026-01-16T23:59:59+00:00
Accession:  0001104659-26-004358
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Black Spade Acquisition III completes $172.5M SPAC IPO; trust funded with $10 per share
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- IPO of 17,250,000 units at $10/unit (includes full over-allotment); gross proceeds $172.5M.
- Concurrent private placement of 8,150,000 warrants at $0.50 each to sponsor and underwriters for $4.075M.
- Net of $172.5M placed in trust account; transaction costs $9.9M (cash $2.3M, deferred $6.9M, other $0.7M).
- Audited balance sheet at Jan 7, 2026: cash $1.045M, trust $172.5M, total assets $173.7M; Class A shares at $10 redemption.
- SPAC has 24 months (or 27 with letter of intent) to complete a business combination; no operations yet.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2087087/000110465926004358/0001104659-26-004358-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2087087/000110465926004358/tm263299d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-004358

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer