- CEO
- Sze Wai Tsang
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- The Sun’s Group Center, 29th Floor, 200 Gloucester Road Wan Chai Hong Kong
- IPO Date
- Nov 8, 2024
- Business
- A SPAC III Acquisition Corp. is a blank check company, also known as a special purpose acquisition company (SPAC), incorporated in the British Virgin Islands in 2021 and headquartered at The Sun's Group Center, 29th Floor, 200 Gloucester Road, Wan Chai, Hong Kong. The company has no significant operations and focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, primarily targeting companies in the environmental, sustainability and governance (ESG) and material technology sectors with enterprise values between $100 million and $600 million. Its securities include units (ASPCU), Class A ordinary shares (ASPC), and rights (ASPCR), which began separate trading on Nasdaq Capital Market in January 2025 following its $55 million initial public offering in November 2024, underwritten by Maxim Group LLC. Recent major developments include entering a merger agreement on December 31, 2024, with HDEducation Group Limited, a Cayman Islands exempted company, valuing the transaction at $300 million in stock consideration through a two-step reincorporation and acquisition merger process, subject to shareholder approval and customary closing conditions; a subsequent merger agreement announced on May 23, 2025, with Bioserica International Limited for $200 million in stock and additional shares; and ongoing legal investigations into these proposed combinations as of May 2025. The company operates globally with a focus on emerging markets, particularly Greater China, led by CEO Claudius Tsang, who brings over 20 years of experience in capital markets, private equity, and M&A.