Black Spade Acquisition III to merge with satellite communications firm Astrum Space in deal valuing Astrum at about US$1 billion
BIII•Deal terms and listing plan
Astrum Space agreed to combine with Black Spade Acquisition III Co, taking Astrum public as Astrum Space Company on the NYSE.
The deal values Astrum at about USD 1 billion in equity, excluding up to about USD 172.5 million of cash held in trust.
Closing is targeted by the end of 2026, subject to approvals and other conditions.
Ownership and business focus
Existing Astrum shareholders are expected to own more than 80% of the combined company if no redemptions occur.
Astrum develops a wholesale satellite-to-device broadcast and data-distribution network focused on Asia-Pacific.
