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ASPCU

A SPAC III Acquisition Corp.

ASPCU

A SPAC III Acquisition Corp. • NASDAQ
$11.01 ▼ -2.72% (-0.30)
Market Cap $88.45 M
52w High $13.00
52w Low $9.99
Dividend Yield 0%
P/E 97.43
Volume 117
Outstanding Shares 8.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $173.955K ▼ $480.352K ▲ 0% $-0.11 ▼ $0 ▲
Q2-2025 $0 $267.036K ▲ $379.939K ▼ 0% $0.047 ▼ $-267.036K ▼
Q1-2025 $0 $233.878K ▼ $413.202K ▲ 0% $0.051 ▲ $-234K ▲
Q4-2024 $0 $540.328K ▲ $-180K ▼ 0% $0 ▲ $-540K ▼
Q3-2024 $0 $38.778K $-38.778K 0% $-0.03 $-38.778K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.063M ▼ $63.361M ▲ $529.565K ▲ $975.004K ▼
Q2-2025 $1.069M ▼ $62.776M ▲ $425.036K ▲ $1.898M ▼
Q1-2025 $1.12M ▼ $62.25M ▲ $278.705K ▼ $61.971M ▲
Q4-2024 $1.599M ▲ $62.075M ▲ $517.334K ▲ $61.558M ▲
Q3-2024 $0 $82.25K $269.604K $-187.354K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $480.352K ▲ $-5.877K ▲ $0 $0 $-5.877K ▲ $-5.877K ▲
Q2-2025 $379.939K ▼ $-51.101K ▲ $0 $0 ▲ $-51.101K ▲ $-51.101K ▲
Q1-2025 $413.202K ▲ $-203.059K ▲ $0 $-276.221K ▼ $-479.28K ▼ $-203.059K ▲
Q4-2024 $-179.605K ▼ $-354.934K ▼ $0 $61.954M ▲ $1.599M ▲ $-354.934K ▼
Q3-2024 $-38.778K $-118.953K $0 $0 $0 $-118.953K

Five-Year Company Overview

Income Statement

Income Statement ASPCU is a pure “blank check” company, so its income statement is essentially empty from a normal business perspective. It does not have meaningful revenue, gross profit, or operating earnings because it has no operating business yet. Historically, the only activity would be minor items such as formation costs, listing fees, and other setup expenses, which can cause small accounting losses but do not reflect an underlying business. The real income statement will only become relevant after a merger target is announced and combined financials of that operating company are available.

Balance Sheet

Balance Sheet The balance sheet information shown is placeholder-like and does not reflect a typical SPAC structure, but in practice a SPAC balance sheet is usually dominated by cash raised in the IPO and held in a secure trust. There is usually very little in the way of physical assets, inventory, or traditional working capital. Debt is typically limited or non‑existent, while equity largely reflects the IPO proceeds plus founder equity. The financial strength of ASPCU today is therefore mainly about the amount of cash in trust, the protections for that cash, and the eventual terms offered to target companies and existing shareholders. Detailed asset quality, leverage, and return metrics will only become meaningful once a merger is completed.

Cash Flow

Cash Flow Cash flow for a SPAC at this stage is almost entirely driven by financing activities, namely the cash raised from its IPO that goes into a trust account. Operating cash flows are minimal and largely related to administrative costs, legal and banking fees, and ongoing listing expenses. There is little or no traditional investing cash flow because ASPCU does not yet buy equipment, build facilities, or fund product development. The key future cash‑flow events will be: cash used in the eventual acquisition, any redemptions by shareholders who choose to take their money back instead of staying in the merged company, and post‑merger cash generation (or burn) by the acquired business.

Competitive Edge

Competitive Edge As a SPAC, ASPCU’s competitive position is less about products and more about its ability to attract a strong private company to merge with. It operates in a crowded SPAC and alternative‑capital space, where many vehicles are chasing a limited pool of attractive targets. Its differentiation comes from the reputation and connections of its sponsor team, its focus on ESG and material technology themes, and the size and terms of its capital pool. The challenge is time: SPACs generally have a limited window to complete a deal, and if they cannot secure an appealing target on reasonable terms, the capital may be returned to shareholders. Until a specific merger is announced, ASPCU’s competitive profile is mostly potential rather than proven strength.

Innovation and R&D

Innovation and R&D ASPCU itself does not run research labs, build products, or hold patents. Its “innovation strategy” is to find and merge with a company that already has those features. Management has indicated a focus on environmentally driven and advanced materials businesses, which suggests an eventual partner with technology in areas like clean energy, circular materials, or sustainability solutions. Any true innovation and R&D discussion will only be possible once a concrete target is named and its pipeline, intellectual property, and technical talent can be evaluated. For now, the main innovation question is how selective and disciplined ASPCU will be in choosing a target with genuine, defensible technology rather than fashionable but shallow ESG claims.

Summary

ASPCU is in the earliest, pre‑merger phase of its life as a SPAC. Its current financial statements do not reflect an operating business, but rather a pool of capital searching for a company to acquire. Strengths at this stage typically include a clean balance sheet, cash held in trust, and flexibility to structure a deal. Risks center on execution: the ability to find a high‑quality target in ESG or material technology, negotiate fair terms, and navigate shareholder redemptions and dilution. Until a definitive merger agreement is announced, analysis is mostly about structure and intent, not performance. The turning point will be the announcement of a specific target; only then will it be possible to assess real revenues, profits, competitive advantages, and long‑term prospects of the resulting public company.