ASPC · ASPAC III Acquisition Corp.
Substantial doubt about the company's ability to continue as a going concern.
“Management has determined that the liquidation, should a business combination not occur, and potential subsequent dissolution, as well as liquidity concerns raise substantial doubt about the Company's ability to continue as a going concern. Therefore, management believes that it would be prudent to include in its disclosure language about the Company's ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate. No adjustments have been made to the carrying amounts of assets and liabilities should the Company be required to liquidate after November 12, 2026. Based upon the above analysis, management determined that these conditions raise substantial doubt about the Company's ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.”View the 10-Q filed May 8, 2026
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 3, 4 and 5. Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2024-11-19 | ASPAC III (Holdings) Corp. |
10% Owner |
Buy↑
Filing footnotes — Rights to receive Class A Ordinary Shares (Direct)
The rights convert automatically into Class A ordinary shares at the completion of the Issuer's initial business combination. |
Rights to receive Class A Ordinary Shares
|
5,000 |
| 2024-11-19 | Tsang Claudius |
Director, CEO and CFO, 10% Owner |
Buy↑
Filing footnotes — Rights to receive Class A Ordinary Shares (Indirect)
The rights convert automatically into Class A ordinary shares at the completion of the Issuer's initial business combination. |
Rights to receive Class A Ordinary Shares
(I)
|
5,000 |
| 2024-11-19 | ASPAC III (Holdings) Corp. |
10% Owner |
Other↓
Filing footnotes — Class B Ordinary Shares (Direct)
On November 19, 2024, A SPAC III (Holdings) Corp. forfeited for no consideration an aggregate of 81,250 shares of Class B ordinary shares, which were subsequently cancelled by A SPAC III Acquisition Corp. The Issuer's Class B ordinary shares are convertible into the Issuer's Class A ordinary shares on a one-for-one basis at the Reporting Person's election and has no expiration date. |
Class B Ordinary Shares
|
81,250 |
| 2024-11-19 | Tsang Claudius |
Director, CEO and CFO, 10% Owner |
Buy↑
Filing footnotes — Class A Ordinary Share, no par value (Indirect)
Reflects the 5,000 private units obtained by A SPAC III (Holdings) Corp., the Issuer's sponsor. The private units consist of Class A ordinary shares and rights. The private units were purchased at $10 per unit for an aggregate purchase price of $50,000. Mr. Claudius Tsang is the director of A SPAC III (Holdings) Corp. Mr. Tsang has voting and dispositive power over the shares held of record by A SPAC III (Holdings) Corp. |
Class A Ordinary Share, no par value
(I)
|
5,000 |
| 2024-11-19 | Tsang Claudius |
Director, CEO and CFO, 10% Owner |
Other↓
Filing footnotes — Class B Ordinary Shares (Indirect)
On November 19, 2024, A SPAC III (Holdings) Corp. forfeited for no consideration an aggregate of 81,250 shares of Class B ordinary shares, which were subsequently cancelled by A SPAC III Acquisition Corp. The Issuer's Class B ordinary shares are convertible into the Issuer's Class A ordinary shares on a one-for-one basis at A SPAC III (Holdings) Corp.'s election and has no expiration date. |
Class B Ordinary Shares
(I)
|
81,250 |
| 2024-11-19 | ASPAC III (Holdings) Corp. |
10% Owner |
Buy↑
Filing footnotes — Class A Ordinary Share, no par value (Direct)
Reflects the 280,000 private units owned by A SPAC III (Holdings) Corp., the Issuer's sponsor. The private units consist of ordinary shares and rights. The private units were purchased at $10 per unit for an aggregate purchase price of $2,800,000. Mr. Claudius Tsang is the director of A SPAC III (Holdings) Corp. Mr. Tsang has voting and dispositive power over the shares held of record by A SPAC III (Holdings) Corp. |
Class A Ordinary Share, no par value
|
5,000 |
| 2024-11-12 | ASPAC III (Holdings) Corp. |
10% Owner |
Buy↑
Filing footnotes — Class A Ordinary Share, no par value (Direct)
Reflects the 280,000 private units owned by A SPAC III (Holdings) Corp., the Issuer's sponsor. The private units consist of ordinary shares and rights. The private units were purchased at $10 per unit for an aggregate purchase price of $2,800,000. Mr. Claudius Tsang is the director of A SPAC III (Holdings) Corp. Mr. Tsang has voting and dispositive power over the shares held of record by A SPAC III (Holdings) Corp. |
Class A Ordinary Share, no par value
|
280,000 |
| 2024-11-12 | Tsang Claudius |
Director, CEO and CFO, 10% Owner |
Buy↑
Filing footnotes — Class A Ordinary Share, no par value (Indirect)
Reflects the 280,000 private units owned by A SPAC III (Holdings) Corp., the Issuer's sponsor. The private units consist of ordinary shares and rights. The private units were purchased at $10 per unit for an aggregate purchase price of $2,800,000. Mr. Claudius Tsang is the director of A SPAC III (Holdings) Corp. Mr. Tsang has voting and dispositive power over the shares held of record by A SPAC III (Holdings) Corp. |
Class A Ordinary Share, no par value
(I)
|
280,000 |
| 2024-11-12 | ASPAC III (Holdings) Corp. |
10% Owner |
Buy↑
Filing footnotes — Rights to receive Class A Ordinary Shares (Direct)
The rights convert automatically into Class A ordinary shares at the completion of the Issuer's initial business combination. |
Rights to receive Class A Ordinary Shares
|
280,000 |
| 2024-11-12 | Tsang Claudius |
Director, CEO and CFO, 10% Owner |
Buy↑
Filing footnotes — Rights to receive Class A Ordinary Shares (Indirect)
The rights convert automatically into Class A ordinary shares at the completion of the Issuer's initial business combination. Reflects the 280,000 private units owned by A SPAC III (Holdings) Corp., the Issuer's sponsor. The private units consist of ordinary shares and rights. The private units were purchased at $10 per unit for an aggregate purchase price of $2,800,000. Mr. Claudius Tsang is the director of A SPAC III (Holdings) Corp. Mr. Tsang has voting and dispositive power over the shares held of record by A SPAC III (Holdings) Corp. |
Rights to receive Class A Ordinary Shares
(I)
|
280,000 |
| 2024-11-08 | PANG Wai Yuen Marvin |
Director |
Other↑
|
No Securities Owned
|
0 |
| 2024-11-08 | Wong Eden |
Director |
Other↑
|
No Securities Owned
|
0 |
| 2024-11-08 | LIU Xiangge |
Director |
Other↑
|
No Securities Owned
|
0 |