HONG
KONG, Nov. 12, 2024 /PRNewswire/ -- A SPAC III
Acquisition Corp. (the "Company"), a blank check company
incorporated as a British Virgin
Islands exempted company formed for the purpose of effecting
a merger, share exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses, today announced the closing of its previously announced
initial public offering of 5,500,000 units at an offering price of
$10.00 per unit, with each unit
consisting of one Class A ordinary share and one right. Each right
entitles the holder to receive one-tenth (1/10) of one Class A
ordinary share upon consummation of the Company's initial business
combination. The units began trading on the Nasdaq Capital Market
("Nasdaq") under the ticker symbol "ASPCU" on November 8, 2024. Once the securities comprising
the units begin separate trading, the Class A ordinary shares and
rights will be traded on Nasdaq under the symbols "ASPC" and
"ASPCR," respectively.
Maxim Group LLC acted as the sole book-running manager for the
offering.
The Company has granted the underwriter a 45-day option to
purchase up to 825,000 additional units at the initial public
offering price less the underwriting discount to cover
over-allotments, if any.
A registration statement on Form S-1 (File No. 333-282428) (the
"Registration Statement") relating to the securities to be sold in
the initial public offering, as amended, was declared effective by
the U.S. Securities and Exchange Commission (the "SEC") on
November 8, 2024. The offering is
being made only by means of a prospectus. Copies of the prospectus
relating to this offering may be obtained from Maxim Group LLC, 300
Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate
Department, by telephone at (212) 895-3745 or by email at
syndicate@maximgrp.com, or by accessing the SEC's website,
www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About A SPAC III Acquisition Corp.
A SPAC III Acquisition Corp. is a blank check company, also
commonly referred to as a special purpose acquisition company, or
SPAC, formed for the purpose of effecting a merger, share exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. A SPAC III
Acquisition Corp. intends to focus on businesses in the
Environmental, Sustainability and Governance (ESG) and material
technology sectors.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
anticipated use of the net proceeds and search for an initial
business combination. No assurance can be given that the net
proceeds of the offering will be used as
indicated. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Registration Statement and related preliminary prospectus filed
in connection with the initial public offering with the SEC. Copies
are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
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SOURCE A SPAC III Acquisition Corp