ASPAC III Acquisition Business Summary

A SPAC III Acquisition Corp. (ASPC) is a blank check company, or Special Purpose Acquisition Company (SPAC), incorporated in the British Virgin Islands and headquartered in Hong Kong. The company’s primary business model involves raising capital through an initial public offering (IPO) to effect a merger, share exchange, asset acquisition, or similar business combination. As of March 2026, ASPC does not generate operational revenue, instead deriving income from interest earned on its trust account. The company focuses its search for a target entity within the Environmental, Sustainability, and Governance (ESG) and material technology sectors, specifically targeting growth-oriented businesses with an enterprise value between $100 million and $600 million. In early 2026, the company entered into a definitive merger agreement with Bioserica International Limited, a move intended to transition the entity into an active player in the sustainable materials market. ASPC operates within a crowded field of shell companies, competing directly with other SPACs such as Horizon Space Acquisition I (HSPO), Bayview Acquisition (BAYA), and DT Cloud Star Acquisition Corp (DTSQ), positioning itself as a specialized vehicle for Asian-based ESG technology firms seeking a Nasdaq listing. The leadership team is anchored by Claudius Tsang (also known as Sze Wai Tsang), who serves as the Chairman, Chief Executive Officer, and Chief Financial Officer. Tsang brings over 20 years of experience in capital markets and private equity, having previously served as the Co-head of Private Equity for North Asia at Templeton Asset Management and as a Partner at Templeton Private Equity Partners. His pedigree includes significant roles at Lehman Brothers and as the former CEO of Model Performance Acquisition Corp., which successfully merged with MultiMetaVerse. The board of directors includes independent members Pang Wai Yuen Marvin, Wong Yi Dung Eden, and Xiangge Liu, who provide oversight in corporate governance and international finance. The company is backed by its sponsor, A SPAC III (Holdings) Corp., and maintains a strategic focus on leveraging its management’s deep ties to the Hong Kong and mainland Chinese financial ecosystems to identify high-growth targets in the material science sector.