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Black Spade Acquisition III Co (BIII) stock

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NYSE: BIII NYSE Alternative Carriers

Black Spade Acquisition III Co is a US-listed company in the alternative carriers industry. Its financial year ends in December.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds16 adding, 5 cuttingOf 6 active managers that changed their stake, 6 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Price chart

  • 1 day0.0%
  • 1 week+0.3%
  • 1 month+0.6%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Black Spade Acquisition III Co valuation models and calculator

No model value for Black Spade Acquisition III Co at the moment. Current status: limited reported history: available models are shown without a Buy/Hold/Sell rating. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Black Spade Acquisition III Co as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.09 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no twelve-month earnings or share count in the filings yet
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: no twelve-month earnings or share count in the filings yet
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: no twelve-month earnings or share count in the filings yet
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: no twelve-month earnings or share count in the filings yet
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. — No model applies: the filings don’t yet support a value.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Black Spade Acquisition III Co with Alternative Carriers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Black Spade Acquisition III Co: too few analysts cover it.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0.04
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
89%
of shares
Held by insiders
0.0%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
+0.5%
vs 200-day average
—
Volatility (1 year)
2%
Beta vs S&P 500
0.00

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Who owns it

Funds buying and selling
Reported value
$137M
Institutions reporting
40
Shares held vs prior quarter
▲ 21.4%
Positions opened / closed
10 / 1

Top buyers and sellers, Q2 2026: 16 institutions bought and 5 sold ; the biggest buyer was Millennium Management LLC (+600K shares) and the biggest seller Toronto Dominion Bank (−213K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Aristeia Capital, L.L.C. $10.9M 1.1M 8.0% 0.0%
Tenor Capital Management Co., L.P. $9.9M 1.0M 7.2% 0.0%
Magnetar Financial LLC $9.9M 1000K 7.2% 0.0%
Healthcare Of Ontario Pension Plan Trust Fund $8.2M 825K 6.0% 0.0%
AQR Arbitrage LLC $7.6M 760K 5.5% 0.0%
Millennium Management LLC $7.5M 750K 5.4% ▲ 400.0%
Fort Baker Capital Management LP $7M 700K 5.1% ▲ 40.0%
Sona Asset Management (US) LLC $6M 600K 4.3% New
Wealthspring Capital LLC $5.5M 552K 4.0% New
Glazer Capital, LLC $5M 500K 3.6% 0.0%
Alberta Investment Management Corp $5M 500K 3.6% 0.0%
BNP Paribas Financial Markets $4.4M 440K 3.2% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Black Spade Acquisition III Co's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Black Spade Acquisition III Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Black Spade Acquisition III Co in brief

What does Black Spade Acquisition III Co do?
Black Spade Acquisition III Co is a US-listed company in the alternative carriers industry. Its financial year ends in December.
What is Black Spade Acquisition III Co's stock ticker?
Black Spade Acquisition III Co trades under the ticker BIII on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Black Spade Acquisition III Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Aristeia Capital, L.L.C., Tenor Capital Management Co., L.P. and Magnetar Financial LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.