---
title: "A SPAC III Acquisition | 10-K: FY2025 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277833135.md"
datetime: "2026-03-04T21:13:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277833135.md)
  - [en](https://longbridge.com/en/news/277833135.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277833135.md)
---

# A SPAC III Acquisition | 10-K: FY2025 Revenue: USD 0

Revenue: As of FY2025, the actual value is USD 0.

EPS: As of FY2025, the actual value is USD -0.49.

EBIT: As of FY2025, the actual value is USD -2.999 M.

A SPAC III Acquisition Corp. has not generated any operating revenues to date and anticipates doing so only after completing its initial business combination.

#### Operational Metrics

-   **Net Income (Loss)**: For the year ended December 31, 2025, A SPAC III Acquisition Corp. reported a net income of $1,343,931, compared to a net loss of - $226,383 for the year ended December 31, 2024.
-   **General and Administrative Expenses**: These expenses totaled $827,300 for the year ended December 31, 2025, an increase from $587,106 for the year ended December 31, 2024.
-   **Total Interest Income**: A SPAC III Acquisition Corp. generated $2,171,231 in total interest income from its bank account and Trust Account investments for the year ended December 31, 2025, significantly up from $360,723 in 2024.

#### Cash Flow

-   **Net Cash Used in Operating Activities**: Operating activities consumed - $451,319 in cash for the year ended December 31, 2025, and - $473,887 for the year ended December 31, 2024.
-   **Net Cash Provided by (Used in) Investing Activities**: This segment provided $59,502,058 in cash for 2025, primarily due to cash withdrawn from the Trust Account for public shareholder redemptions, a reversal from - $60,000,000 used in 2024 for investment purchases in the Trust Account.
-   **Net Cash (Used In) Provided by Financing Activities**: Financing activities resulted in - $59,778,279 in cash used for 2025, compared to $62,072,777 provided in 2024.

#### Unique Metrics

-   **Marketable Securities Held in Trust Account**: As of December 31, 2025, marketable securities in the Trust Account amounted to $2,979,936, including approximately $2,171,231 of interest income for the year, a substantial decrease from $60,356,959 as of December 31, 2024, following significant redemptions.
-   **Cash on Hand**: A SPAC III Acquisition Corp. had $871,350 in cash on hand as of December 31, 2025, down from $1,598,890 at the end of 2024.
-   **Working Capital**: Working capital stood at $419,761 as of December 31, 2025.
-   **Redemptions**: In connection with the 2025 EGM, 5,717,419 Class A ordinary shares were redeemed for $59,502,058.

#### Outlook / Guidance

A SPAC III Acquisition Corp. anticipates incurring significant costs for its acquisition plans and does not expect to generate operating revenues until after its initial business combination. Management believes it will not need to raise additional funds for operating expenditures, but acknowledges potential insufficiency if acquisition costs exceed estimates or due to significant public share redemptions, possibly requiring additional financing. The company’s ability to continue as a going concern is in substantial doubt due to the potential for liquidation if a business combination is not completed by November 12, 2026.

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- [ASPC.US](https://longbridge.com/en/quote/ASPC.US.md)

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