{"url_path":"/sec/biii-wt/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of Proceeds.","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/2087087/0001104659-26-059361-index.html","accession_number":"0001104659-26-059361","cik":"0002087087","ticker":"BIII","issuer_name":"Black Spade Acquisition III Co","edgar_url":"https://www.sec.gov/Archives/edgar/data/2087087/0001104659-26-059361-index.html","primary_entity_key":"0002087087","primary_entity_name":"Black Spade Acquisition III Co"},"word_count":279,"has_tables":true,"body_markdown":"Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.\n\nOn January 7, 2026, we consummated the Initial Public Offering of 17,250,000 Units (including 2,250,000 Units sold pursuant to the exercise of the over-allotment option by the underwriter). The Units were sold at an offering price of $10.00 per unit, generating total gross proceeds of $172,500,000. Cohen & Company Capital Markets and Chardan acted as joint book-running managers of the Initial Public Offering. The securities in the offering were registered under the Securities Act on registration statement on Form S-1 ( Registration No. 333-290602). The Securities and Exchange Commission declared the registration statements effective on January 7, 2026.\n\nSimultaneous with the consummation of the Initial Public Offering, the Sponsor and the underwriters consummated the private placement of an aggregate of 8,150,000 Private Placement Warrants at a price of $0.50 per Private Placement Warrants, generating total proceeds of $4,075,000. Each Private Placement Warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. The issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.\n\nThe Private Warrants are identical to the warrants underlying the Units sold in the Initial Public Offering, except that the Private Warrants are not transferable, assignable or salable until after the completion of a Business Combination, subject to certain limited exceptions.\n\nTransaction costs amounted to $9,912,668, consisting of $2,292,000 of cash underwriting fee, $6,876,000 of deferred underwriting fee and $744,668 of other offering costs.\n\nFor a description of the use of the proceeds generated in our Initial Public Offering, see Part I, Item 2 of this Form 10-Q.\n\n​"}