Ogier advises A SPAC III Acquisition Corp. on US$55 million Nasdaq IPO

Ogier's Corporate team in Hong Kong acted as British Virgin Islands counsel to A SPAC III Acquisition Corp. on its initial public offering on Nasdaq.

The British Virgin Islands incorporated special purpose acquisition company (SPAC) announced the closure of its initial public offering (IPO) on 12 November 2024. The IPO consisted of 5,500,000 units (and an over-allotment option to purchase up to 825,000 units) at an offering price of US$10 per unit. In total, A SPAC III Acquisition Corp. (A SPAC III) generated gross proceeds in the region of US$55 million.

The company's units commenced trading on the Nasdaq Capital Market under the ticker symbol ASPCU on 8 November 2024.

The team was led by partner Rachel Huang, with support from the firm's global head of Corporate Nathan Powell, legal managers Kingston Tang and Em Lou and paralegal Josie Ma. Ogier worked closely with the company's US counsel, Loeb & Loeb LLP. Maxim Group LLC served as the sole book-running manager for the offering.

 A SPAC III intends to pursue business combinations with targets in the environmental, social and governance (ESG) and material technology sectors.