Latham Advises Black Spade Acquisition III on US$172.5 Million IPO

Latham & Watkins has advised Black Spade Acquisition III Co, a special purpose acquisition company (SPAC) sponsored by an affiliate of Black Spade Capital Limited, on its initial public offering (IPO) of 17.25 million units, including 2.25 million units issued pursuant to the full exercise by the underwriters of their over-allotment option. The offering was priced at US$10 per unit, resulting in aggregate gross proceeds to the company of US$172.5 million. The units began trading on The New York Stock Exchange (NYSE) on January 6, 2026.

The Latham team was led by Singapore partners Sharon Lau and Stacey Wong, with associate Ein Le Lim.