Content Writer: Janice Chew • Tuesday, 26/01/2026 - 23:16:04 - PM
Black Spade Acquisition III Co, a special purpose acquisition company (SPAC) sponsored by an affiliate of Black Spade Capital — the family office and private investment vehicle tied to Melco Resorts & Entertainment’s Chairman and CEO Lawrence Ho — has priced its initial public offering (IPO), aiming for a New York Stock Exchange (NYSE) debut on 6 January 2026. The offering consists of 15 million units priced at US$10 each, targeting gross proceeds of about US$150 million. Each unit includes one Class A ordinary share and one-third of a redeemable warrant, with whole warrants exercisable at US$11.50 per share once trading separately.
Underwriters have been granted a 45-day option to purchase up to an additional 2.25 million units to cover potential over-allotments, a standard feature in IPOs to stabilize trading post-launch. After separation, the shares and warrants are expected to trade under the symbols “BIIIU” on the NYSE, with the offering’s closing targeted for 7 January 2026, subject to customary conditions.
The SPAC’s management team features seasoned dealmakers including Dennis Tam (Executive Chairman & Co-CEO), Kester Ng (Co-CEO & CFO) and Richard Taylor (Co-CEO & COO). All three previously held leadership roles in Black Spade’s earlier SPACs, namely Black Spade Acquisition Co and Black Spade Acquisition II Co. Past Black Spade SPACs have pursued major transactions, including a US$23 billion de-SPAC merger with Vietnamese automaker VinFast and a US$488 million deal with The Generation Essentials Group in 2025, demonstrating the team’s experience executing high-profile deals.
Lawrence Ho himself, a long-standing figure in Asian gaming and entertainment through Melco Resorts and other ventures, brings credibility to the vehicle. His family office, Black Spade Capital, has increasingly used the SPAC structure to funnel capital into lifestyle, leisure, and entertainment opportunities, reflecting a broader trend of private investment firms leveraging public markets for acquisition growth.