A SPAC III Acquisition Corp. recently filed an 8-K with the Securities and Exchange Commission, detailing the completion of the sale of Over-Allotment Option Units and Additional Private Placement Units. The transactions took place on November 19, 2024. A SPAC III Acquisition Corp., which operates as a blank check company focused on mergers and acquisitions, provided further insights into the financial activities that occurred.
As per the details of the filing, the Company successfully closed the issuance and sale of 500,000 Over-Allotment Option Units at a price of $10.00 per unit, resulting in total gross proceeds of $5,000,000. Simultaneously, the Company concluded a private placement of an additional 5,000 Private Placement Units to its Sponsor, generating gross proceeds of $50,000. These activities led to an additional $5,000,000 being deposited into the Trust Account, after accounting for expenses.
Included in the filing was Exhibit 99.1, which presented a pro forma balance sheet reflecting these transactions. The unaudited pro forma financial statement showcased the adjustments made as a result of the closure of the Over-Allotment Option Units, the sale of Private Placement Units, as well as the issuance of additional shares to the underwriters.
Overall, A SPAC III Acquisition Corp. has successfully completed these financial activities, enhancing its position as it moves forward with its strategic objectives.
This article contains essential information released in the 8-K filing and highlights key financial events for A SPAC III Acquisition Corp. on November 19, 2024. Investors and stakeholders can refer to the filing for in-depth details and analysis of the transactions undertaken by the Company.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read A SPAC III Acquisition’s 8K filing here.
