Astrum Space and Black Spade III Sign SPAC Merger Agreement Targeting NYSE Listing at $1 Billion
Asia-Pacific satellite network developer Astrum Space signed a business combination agreement with SPAC Black Spade Acquisition III on August 27, 2026, proposing a NYSE listing under the name Astrum Space Company at an approximately $1 billion equity valuation that assumes no shareholder redemptions. The deal gives existing Astrum shareholders over 80% of the combined entity under that same no-redemption scenario, with up to 25.5 million additional shares contingent on construction and launch milestones for its NEASTAR-1 satellite, projected for late 2028 to early 2029. The transaction remains subject to shareholder votes, SEC registration, and NYSE approval, with a contractual deadline of May 27, 2027, and no committed PIPE financing has been disclosed.