Black Spade III signs merger with Astrum Space; 100M shares to Astrum Holding

Black Spade Acquisition III Co

Astrum Holding receives 100,000,000 Listco Shares for its Astrum shares; surviving company renamed Astrum Space Company.
Up to 25.5M Performance Shares tied to NEASTAR-1 milestones: integration by Feb 2028, shipment Apr 2029, launch Jun 2029.
Sponsor gets $3.5M transaction bonus at closing, deducted from trust or Astrum funds.
Lock-ups: Astrum Holding 4M shares free, 7.5M for 12 months, rest for 2 years; Sponsor 3.37M free, 1.75M for 12 months, warrants 30 days.
Founder letter of support up to $168M for operations incl. NEASTAR-1 development; closing deadline May 27, 2027.

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