Overview
- TickerASPC on Nasdaq1
- IndustryBlank Checks1
- HeadquartersWanchai, Hong Kong1
- Incorporated inVirgin Islands, British3
- Business address200 Gloucester Road, 29Th Floor, Wanchai, K3 000003
- Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
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Section 4(a)(2) of the Securities Act of 1933, as amended, as the transactions did not involve a public offering.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| General and administrative expenses | $213.5K | $152.4K |
| Legal and professional expenses | $613.8K | $434.7K |
| Loss from operations | -$827.3K | -$587.1K |
| Interest income | $2.2M | $360.7K |
| Income (loss) before tax expense | $1.3M | -$226.4K |
| Net income (loss) | $1.3M | -$226.4K |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $871.4K | $1.6M | |
| Prepaid expenses | $84.4K | $116.7K | |
| Total current assets | $955.7K | $1.7M | |
| Investments held in trust account | $3.0M | $60.4M | |
| Total Assets | $3.9M | $62.1M | |
| Accounts payable and accrued expenses | $536.0K | $241.1K | |
| Total current liabilities | $536.0K | $517.3K | |
| Total Liabilities | $536.0K | $517.3K | |
| Class A ordinary shares subject to possible redemption, no par value; 100,000,000 shares authorized; 282,581 shares issued and outstanding at redemption value of $10.55 per share and 6,000,000 shares issued and outstanding at redemption value of $9.62 as of December 31, 2025 and 2024, respectively | $3.0M | $57.7M | |
| Additional paid-in capital | $4.3M | ||
| Retained earnings (accumulated deficit) | $419.8K | -$392.0K | |
| Total shareholders equity | $419.8K | $3.9M | -$140.6K |
| Total Liabilities, Shares Subject to Redemption and Shareholders Equity | $3.9M | $62.1M | |
| Preference shares, authorized (in Shares) | 1.0M shares | 1.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $871.4K | $1.6M | |
| Prepaid expenses | $84.4K | $116.7K | |
| Total current assets | $955.7K | $1.7M | |
| Investments held in trust account | $3.0M | $60.4M | |
| Total Assets | $3.9M | $62.1M | |
| Accounts payable and accrued expenses | $536.0K | $241.1K | |
| Total current liabilities | $536.0K | $517.3K | |
| Total Liabilities | $536.0K | $517.3K | |
| Class A ordinary shares subject to possible redemption, no par value; 100,000,000 shares authorized; 282,581 shares issued and outstanding at redemption value of $10.55 per share and 6,000,000 shares issued and outstanding at redemption value of $9.62 as of December 31, 2025 and 2024, respectively | $3.0M | $57.7M | |
| Additional paid-in capital | $4.3M | ||
| Retained earnings (accumulated deficit) | $419.8K | -$392.0K | |
| Total shareholders equity | $419.8K | $3.9M | -$140.6K |
| Total Liabilities, Shares Subject to Redemption and Shareholders Equity | $3.9M | $62.1M | |
| Preference shares, authorized (in Shares) | 1.0M shares | 1.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income (loss) | $1.3M | -$226.4K |
| Interest earned on investments held in trust account | -$2.1M | -$357.0K |
| Prepaid expenses | $32.4K | -$116.7K |
| Due from related party | $2.6K | |
| Accounts payable and accrued expenses | $294.8K | $226.2K |
| Net Cash Used in Operating Activities | -$451.3K | -$473.9K |
| Cash withdrawn from Trust Account to pay public shareholder redemptions | $59.5M | |
| Purchase of investment held in Trust Account | -$60.0M | |
| Net Cash Provided by (Used in) Investing Activities | $59.5M | -$60.0M |
| Payment of public shareholder redemptions | -$59.5M | |
| Proceeds from sale of public units | $60.0M | |
| Proceeds from sale of private placement units | $2.9M | |
| Proceeds from issuance of promissory note to related party | $150.6K | |
| Payment of underwriter commissions | -$600.0K | |
| Payment of offering costs | -$325.2K | |
| Repayment of promissory note - related party | -$276.2K | |
| Advance to a related party | -$2.6K | |
| Net Cash (Used In) Provided by Financing Activities | -$59.8M | $62.1M |
| Net Change in Cash | -$727.5K | $1.6M |
| Initial classification of ordinary shares subject to redemption | $57.0M | |
| Accretion of carrying value to redemption value of Class A redeemable ordinary shares | $4.8M | $696.2K |
| Deferred offering costs paid via promissory note - related party | $88.9K |
No quarter-by-quarter statement was filed.
Corporate structure
ASPAC III Acquisition Corp. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of ASPAC III Acquisition Corp.
- Bank of Montreal Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest Feb 12, 2026 (4 filings since May 8, 2025)
- Mizuho Financial Group Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest Feb 12, 2026 (4 filings since Feb 13, 2025)
- W. R. Berkley Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest Feb 11, 2026 (3 filings since Aug 8, 2025)
- ATW SPAC MANAGEMENT LLC Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest Feb 6, 2026 (3 filings since Feb 14, 2025)
- BOOTHBAY FUND MANAGEMENT, LLC Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest Nov 14, 2025 (2 filings since Nov 14, 2024)
- Feis Equities LLC Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest Nov 4, 2025 (2 filings since Mar 13, 2025)
- WOLVERINE ASSET MANAGEMENT LLC Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest Oct 31, 2025 (3 filings since May 1, 2025)
- TD SECURITIES (USA) LLC Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest May 12, 2025 (2 filings since Feb 13, 2025)
- HIGHBRIDGE CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on ASPAC III Acquisition Corp., latest Apr 25, 2025 (2 filings since Jan 31, 2025)
- ASPAC III (Holdings) Corp. Filed SCHEDULE 13G on ASPAC III Acquisition Corp., latest Feb 14, 2025
- Polar Asset Management Partners Inc. Filed SCHEDULE 13G on ASPAC III Acquisition Corp., latest Feb 14, 2025
- ASPAC III Acquisition Corp. Wanchai, Hong Kong
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What ASPAC III Acquisition Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $871.4K2 Dec 31, 2025 | $1.6M2 Dec 31, 2024 | −45.5% |
Properties, in its own words
We currently maintain our principal executive offices at The Sun’s Group Center, 29th Floor, 200 Gloucester Road, Wan Chai, Hong Kong. We consider our current office space adequate for our current operations.
Item 2 of the 10-K filed Mar 4, 2026.4
Leadership
Who has led ASPAC III Acquisition Corp., and when. Pick a name to see everywhere that person has worked.
- Chief executive officerClaudius Tsang Nov 12, 2024 to Nov 21, 202410
- Chief financial officerClaudius Tsang Nov 12, 2024 to Nov 21, 202410
Board members and other officers (3)
- Board memberEden Wong Nov 12, 2024 to Nov 12, 202411
- Board memberWai Yuen Marvin Pang Nov 12, 2024 to Nov 12, 202412
- Board memberClaudius Tsang Nov 15, 2024 to Nov 21, 202413
Former names
- SPAC III Acquisition Corp.Nov 10, 2021 to Oct 1, 20243
Timeline
- May 27, 20268-K Listing notice or transfer14
- Mar 30, 20268-K Other events15
- Jan 23, 20268-K Unregistered sale of shares16
- Oct 27, 20258-K Bylaws or fiscal year changed; Shareholder vote; Other events17
- May 27, 20258-K Entered a material agreement; Other events18
- Jan 27, 20258-K Entered a material agreement19
- Jan 2, 20258-K Other events20
- Dec 31, 20248-K Entered a material agreement21
- Dec 12, 20248-K Other events22
- Nov 22, 20248-K Other events23
- Nov 19, 20248-K Other events24
- Nov 13, 20248-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed25
- Nov 12, 2024New chief executive Claudius Tsang becomes CEO10
Filings
86 filings to the SEC since October 2021: 2 annual reports, 6 quarterly reports, 12 major events, 9 insider forms, 27 large holders, 30 other. The latest 20:
- Sep 28, 2026DEF 14A DEFINITIVE PROXY STATEMENT EDGAR
- Sep 18, 2026PRE 14A PRELIMINARY PROXY STATEMENT EDGAR
- Aug 12, 202610-Q QUARTERLY REPORT EDGAR
- May 27, 20268-K CURENT REPORT EDGAR
- May 8, 202610-Q QUARTERLY REPORT EDGAR
- Mar 30, 20268-K CURRENT REPORT EDGAR
- Mar 4, 202610-K ANNUAL REPORT EDGAR
- Feb 12, 2026SCHEDULE 13G/A EDGAR
- Feb 12, 2026SCHEDULE 13G/A EDGAR
- Feb 11, 2026SCHEDULE 13G/A EDGAR
- Feb 6, 2026SCHEDULE 13G/A EDGAR
- Jan 23, 20268-K EDGAR
- Nov 14, 2025SCHEDULE 13G/A EDGAR
- Nov 13, 2025SCHEDULE 13G/A EDGAR
- Nov 13, 2025SCHEDULE 13G/A EDGAR
- Nov 10, 202510-Q QUARTERLY REPORT EDGAR
- Nov 10, 2025SCHEDULE 13G/A EDGAR
- Nov 4, 2025SCHEDULE 13G/A EDGAR
- Oct 31, 2025SCHEDULE 13G/A EDGAR
- Oct 27, 20258-K CURRENT REPORT EDGAR
The 86 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Nov 19, 2024 | ASPAC III (Holdings) Corp.10% owner | Buy | 5,000 | Form 4 | ||
| Nov 19, 2024 | Tsang ClaudiusCEO and CFO | Buy | 5,000 | Form 4 | ||
| Nov 12, 2024 | ASPAC III (Holdings) Corp.10% owner | Buy | 280,000 | Form 4 | ||
| Nov 12, 2024 | Tsang ClaudiusCEO and CFO | Buy | 280,000 | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Bank of MontrealSCHEDULE 13G/A, 4 filings May 8, 2025 to Feb 12, 202626
- Mizuho Financial GroupSCHEDULE 13G/A, 4 filings Feb 13, 2025 to Feb 12, 202627
- W. R. BerkleySCHEDULE 13G/A, 3 filings Aug 8, 2025 to Feb 11, 202628
- ATW SPAC MANAGEMENT LLCSCHEDULE 13G/A, 3 filings Feb 14, 2025 to Feb 6, 202629
- BOOTHBAY FUND MANAGEMENT, LLCSCHEDULE 13G/A, 2 filings Nov 14, 2024 to Nov 14, 202530
- Feis Equities LLCSCHEDULE 13G/A, 2 filings Mar 13, 2025 to Nov 4, 202531
- WOLVERINE ASSET MANAGEMENT LLCSCHEDULE 13G/A, 3 filings May 1, 2025 to Oct 31, 202532
- TD SECURITIES (USA) LLCSCHEDULE 13G/A, 2 filings Feb 13, 2025 to May 12, 202533
- HIGHBRIDGE CAPITAL MANAGEMENT LLCSCHEDULE 13G/A, 2 filings Jan 31, 2025 to Apr 25, 202534
- ASPAC III (Holdings) Corp.SCHEDULE 13G, 1 filing Feb 14, 202535
- Polar Asset Management Partners Inc.SCHEDULE 13G, 1 filing Feb 14, 202536
SEC filer profile
How ASPAC III Acquisition Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARASPAC III Acquisition Corp.1
- CIK0001890361
- Employer ID (EIN)00-00000004
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company4
- Incorporated inBritish Virgin Islands4
- Fiscal year endsDecember 311
- Industry code (SIC)6770 Blank Checks1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address200 Gloucester Road, 29Th Floor, Wanchai, K3 000001
- Phone852 9258 97281
- Shares outstanding2,337,481 Common Class A shares; 100 Common Class B shares as of Mar 4, 20264
- Public float$61.5M as of Jun 30, 20254
- AuditorWWC, P.C., San Mateo, California PCAOB ID 1171; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceNov 10, 20211
- Filings86 in all: SCHEDULE 13G/A (16), 8-K (12), SCHEDULE 13G (10), 10-Q (6), 3 (5), CORRESP (5), UPLOAD (5), 4 (4)1
All 22 form types
425 (4), 10-K (2), DEF 14A (2), DRS/A (2), DRSLTR (2), PRE 14A (2), S-1/A (2), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), EFFECT (1), S-1 (1), SC 13G (1)
- Latest filingsAnnual report (10-K) Mar 4, 2026
Quarterly report (10-Q) Aug 12, 2026
Proxy statement (DEF 14A) Sep 28, 2026
Latest 8-K (8-K) May 27, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Units | ASPCU | Nasdaq |
| Class A ordinary shares, no par value | ASPC | Nasdaq |
| Rights | ASPCR | Nasdaq |
From the cover page of the 10-K filed Mar 4, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
Legal proceedings
We may be subject to legal proceedings, investigations and claims incidental to the conduct of our business from time to time. We are not currently a party to any material litigation or other legal proceedings brought against us. We are also not aware of any legal proceeding, investigation or claim, or other legal exposure that has a more than remote possibility of having a material adverse effect on our business, financial condition or results of operations.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11SEC EDGAREden Wong, Board member
- 12SEC EDGARWai Yuen Marvin Pang, Board member
- 13SEC EDGARClaudius Tsang, Board member
- 14SEC EDGARListing notice or transfer
- 15SEC EDGAROther events
- 16SEC EDGARUnregistered sale of shares
- 17
- 18
- 19SEC EDGAREntered a material agreement
- 20SEC EDGAROther events
- 21SEC EDGAREntered a material agreement
- 22SEC EDGAROther events
- 23SEC EDGAROther events
- 24SEC EDGAROther events
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
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- 36