Black Spade Acquisition III Co 8-K

What Happened
Black Spade Acquisition III Co announced it consummated its initial public offering on January 7, 2026, selling 17,250,000 units (including a 2,250,000-unit overallotment). Each unit consists of one Class A ordinary share and one‑third of a redeemable warrant (each full warrant exercisable at $11.50). The IPO units sold at $10.00 each generated $150,000,000 in gross proceeds. Substantially concurrently, the company completed a private placement of 8,150,000 warrants. An audited balance sheet as of January 7, 2026 reflecting these transactions is included as Exhibit 99.1 to the 8‑K.

Key Details

• IPO: 17,250,000 units sold at $10.00 per unit; includes 2,250,000 units from underwriters’ full exercise of over‑allotment.
• Private placement: 8,150,000 Private Placement Warrants sold — 7,000,000 to Black Spade Sponsor LLC III at $0.50 each ($3,500,000) and 1,150,000 to the underwriters at $0.50 each ($575,000).
• Trust funding: $172,500,000 was placed in a U.S.-based trust account for public shareholders, comprised of $170,663,000 of net IPO proceeds and $1,837,000 of private placement proceeds; Continental Stock Transfer & Trust Company is trustee.
• Warrants: Each whole Warrant permits purchase of one Class A ordinary share at $11.50.

Why It Matters
The company has completed its SPAC IPO and secured cash in a trust account for the benefit of public shareholders, which is the pool generally used to fund a future business combination or to redeem public shares if no combination is completed. The sponsor’s purchase of private placement warrants signals insider participation and helps align sponsor incentives; the trust amount and audited balance sheet provide investors with a clear, documented post‑IPO cash position.