Black Spade Acquisition III Co 8-K/A

What Happened

• On January 7, 2026, Black Spade Acquisition III Co announced it consummated its initial public offering (IPO) of 17,250,000 units (including a 2,250,000-unit over-allotment). Each unit sold for $10.00 and consists of one Class A ordinary share and one‑third of one redeemable warrant (each whole warrant exercisable at $11.50). The IPO generated $150,000,000 in gross proceeds.
• Substantially concurrently, the company completed private sales of 8,150,000 private placement warrants (7,000,000 to the Sponsor for $0.50 each and 1,150,000 to the underwriters for $0.50 each). A total of $172,500,000 was placed in a U.S.-based trust account for the benefit of public shareholders, comprised of $170,663,000 of net IPO proceeds and $1,837,000 of proceeds from the private warrant sales. Continental Stock Transfer & Trust Company is the trustee. An audited balance sheet as of January 7, 2026 reflecting these transactions is included as Exhibit 99.1 to the Form 8-K.

Key Details

• IPO: 17,250,000 units at $10.00 per unit; includes 2,250,000 units from underwriters' full over-allotment.
• Gross IPO proceeds: $150,000,000.
• Private Placement Warrants: 8,150,000 warrants sold (7,000,000 to Sponsor for $3,500,000; 1,150,000 to underwriters for $575,000).
• Trust funding: $172,500,000 placed in trust (trustee: Continental Stock Transfer & Trust Company); audited balance sheet filed as Exhibit 99.1.

Why It Matters

• The filing confirms the company completed its IPO and secured substantial cash in a trust account for public shareholders—key for a blank‑check or acquisition vehicle because those funds are typically used for future business combinations or returned to public investors if no deal is completed.
• The issuance and private sale of warrants create potential future dilution or additional capital if those warrants are exercised (exercise price $11.50 per whole warrant). The audited balance sheet provides investors with a verified snapshot of cash and capital structure immediately after closing.