Wed, Mar 5, 10:24 PM (11 days ago)
**Summary of A SPAC III Acquisition Corp. (ASPC) 10-K Report for FY 2024** A SPAC III Acquisition Corp., incorporated in the British Virgin Islands, completed its IPO on November 12, 2024, raising $55,000,000 from 5,500,000 units priced at $10.00 each. The company also raised an additional $2,800,000 from a private placement. As of December 31, 2024, the company held $60,356,959 in trust, primarily in U.S. government securities. The company reported a net loss of $226,383 for the fiscal year, with general and administrative expenses of $587,106, offset by $360,723 in interest income. The firm is actively pursuing business combinations, with agreements in place to acquire HDEducation Group Limited and Bioserica International Limited, valued at $300,000,000 and $200,000,000, respectively. The management team, led by CEO Claudius Tsang, emphasizes their experience in sourcing investment opportunities, particularly in the ESG sector. However, the company faces significant risks, including potential inability to complete a business combination by the November 2025 deadline, which could lead to liquidation. Additionally, regulatory uncertainties in China may impact potential acquisitions. The firm is classified as a smaller reporting company and an emerging growth company, allowing it to leverage certain reporting exemptions.