A SPAC III closes partial over-allotment, adds $5M to trust, cancels remainder

ASPAC III Acquisition Corp.

Underwriters exercised 500,000 over-allotment units at $10/unit, grossing $5,000,000.
Simultaneous private placement of 5,000 additional units to sponsor raised $50,000.
Trust account now holds $60,000,000, up from $55M after IPO and private placement.
Company canceled 81,250 Class B ordinary shares issued to sponsor due to option cancellation.
Issued 22,500 additional representative shares to underwriters in connection with the option exercise.

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