secwatch.observer — SEC 8-K summary
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Issuer:     ASPAC III Acquisition Corp. (ASPC)
CIK:        0001890361
Form:       8-K
Filed at:   2024-11-19T23:59:59+00:00
Accession:  0001213900-24-099814
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

A SPAC III Acquisition Corp. closes $55M IPO; auditor flags going concern risk
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- IPO of 5,500,000 units at $10/unit closed Nov 12, 2024; gross proceeds of $55M deposited in trust.
- Private placement of 280,000 units to sponsor at $10/unit raised $2.8M, also deposited in trust.
- Auditor's report includes going concern qualification: company must complete business combination by Nov 12, 2025 or liquidate.
- Balance sheet as of Nov 12 shows $55M in trust, $2.0M cash outside trust, working capital $1.65M, accumulated deficit $217,762.
- Underwriters granted 45-day over-allotment option for up to 825,000 additional units.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1890361/000121390024099814/0001213900-24-099814-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1890361/000121390024099814/ea0221699-8k_aspac3.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-099814

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