---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-102023"
form_type: "8-K"
ticker: "BIII"
cik: "0002087087"
company_name: "Black Spade Acquisition III Co"
filed_at: "2026-08-27T11:57:51+00:00"
generated_at: "2026-08-27T12:00:14.447563+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-26-102023
- form_type: 8-K
- ticker: BIII
- cik: 0002087087
- company_name: Black Spade Acquisition III Co
- filed_at: 2026-08-27T11:57:51+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2087087/000110465926102023/0001104659-26-102023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2087087/000110465926102023/tm2624075d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-102023
- JSON: https://secwatch.observer/filing/0001104659-26-102023.json
- Plain text: https://secwatch.observer/filing/0001104659-26-102023.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.