---
title: "Black Spade Acquisition III | 10-Q: FY2026 Q1 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286148407.md"
datetime: "2026-05-12T20:03:53.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286148407.md)
  - [en](https://longbridge.com/en/news/286148407.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286148407.md)
generator: "portal-rs"
---

# Black Spade Acquisition III | 10-Q: FY2026 Q1 Revenue: USD 0

Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD 0.05.

EBIT: As of FY2026 Q1, the actual value is USD -1.747 M.

Black Spade Acquisition III Co operates as a single reportable segment, with its financial and operational metrics reported as follows :

#### Financial Performance (Three Months Ended March 31, 2026)

-   **Net Income**: $1,087,209
-   **Operating Costs**: $329,886
-   **Other Income (Interest Earned on Trust Account)**: $1,417,095
-   **Loss from Operations**: - $329,886

#### Cash Flow (Three Months Ended March 31, 2026)

-   **Net Cash Used in Operating Activities**: - $379,787
-   **Net Cash Used in Investing Activities**: - $172,500,000, primarily for the investment of cash in the Trust Account
-   **Net Cash Provided by Financing Activities**: $170,325,996
-   **Cash at End of Period**: $725,467

#### Assets and Liabilities (As of March 31, 2026)

-   **Cash Held in Trust Account**: $173,917,095
-   **Total Current Assets**: $898,531
-   **Total Assets**: $174,815,626
-   **Total Current Liabilities**: $251,462
-   **Total Liabilities**: $7,127,462
-   **Shareholders’ Deficit**: - $6,228,931

#### Future Outlook and Strategy

Black Spade Acquisition III Co’s primary objective is to complete a Business Combination, which involves a merger, share exchange, asset acquisition, share purchase, reorganization, or similar transaction with one or more businesses, using proceeds from its Initial Public Offering and private placement warrants, along with shares or debt . This Business Combination must have a fair market value of at least 80% of the net assets in the Trust Account, with the post-transaction entity owning or acquiring 50% or more of the target’s voting securities or a controlling interest . The company anticipates incurring significant costs and may require additional funds, which raises substantial doubt about its ability to continue as a going concern without further capital .

### Related Stocks

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

## Related News & Research

- [Black Spade Acquisition III to merge with satellite communications firm Astrum Space in deal valuing Astrum at about US$1 billion](https://longbridge.com/en/news/297172679.md)
- [Black Spade Acquisition III Q2 FY26 net income rises to $848,429](https://longbridge.com/en/news/295517080.md)
- [Jatt III Acquisition raises $69 million in IPO of 6,900,000 shares at $10 each](https://longbridge.com/en/news/297832933.md)
- [REG - iShares III PLC - Launch of Share Class](https://longbridge.com/en/news/297174023.md)
- [Lakeshore Acquisition III extends SPAC combination deadline to Oct. 1 after $67,500 extension payment](https://longbridge.com/en/news/297766395.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**