ASPC · ASPAC III Acquisition Corp. · Insider Trading
Substantial doubt about the company's ability to continue as a going concern.
“In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards “Codification Subtopic 205-40, Presentation of Financial Statements - Going Concern”, management has determined that these conditions raise substantial doubt about the Company’s ability to continue as a going concern. The management’s plan in addressing this uncertainty is through the Working Capital Loan (see Note 5). In addition, if the Company is unable to complete a Business Combination within the Combination Period, the Company’s board of directors would proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company. There is no assurance that the Company’s plans to consummate a Business Combination will be successful within the Combination Period. As a result, management has determined that such an additional condition also raises substantial doubt about the Company’s ability to continue as a going concern.”View the 10-Q filed Nov 5, 2026
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Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 4 and 5. Form 3 supplies initial ownership rather than a trade; 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 |