Black Spade Acquisition III Posts $22,525 Net Loss in First 40 Days of Operations
Black Spade Acquisition III Co, a newly formed special purpose acquisition company, reported a net loss of $22,525 for the 40-day period ending September 30, 2025, its first financial reporting since incorporation.
Black Spade Acquisition III Co, a Cayman Islands-based special purpose acquisition company formed to pursue business combinations, reported a net loss of $22,525 for the period from August 21 to September 30, 2025. The company was incorporated on August 21, 2025, making this its inaugural financial report. Read more earnings reports.
The company reported no revenue for the period. Operating expenses totaled $22,525, resulting in an operating loss equal to the net loss. The company incurred no income tax expense during the period.
As of September 30, 2025, Black Spade Acquisition III held total assets of $344,358, with current assets of $25,000. The company reported zero cash and cash equivalents at period end. Total liabilities stood at $341,883, all classified as current liabilities.
Stockholders' equity totaled $2,475 as of September 30, 2025, consisting of $24,425 in additional paid-in capital offset by a retained deficit of $22,525. The company had 5.75 million shares outstanding at period end.
Financial Summary
| Metric | Period Ending Sept 30, 2025 |
|---|---|
| Net Loss | ($22,525) |
| Operating Loss | ($22,525) |
| Revenue | $0 |
| Total Assets | $344,358 |
| Cash and Equivalents | $0 |
| Total Liabilities | $341,883 |
| Stockholders' Equity | $2,475 |
| Shares Outstanding | 5,750,000 |
The company's state of incorporation is listed as E9, and it is classified as a non-accelerated filer and small business by regulatory standards. The financial data covers the company's first 40 days of operations following its August 21, 2025 incorporation date.