ASPAC III Acquisition Corp. (NASDAQ:ASPCU) has declared that starting from Monday, holders of the company's units may opt to trade the Class A ordinary shares and rights included in these units separately.
The announcement, made on Wednesday, January 1, 2025, specified that the separated Class A ordinary shares and rights are expected to be traded on the NASDAQ Capital Market under the ticker symbols "ASPC" and "ASPCR," respectively.
The units that are not separated will continue to be traded on NASDAQ under the symbol "ASPCU." According to the company, after the separation, the Class A ordinary shares and rights can be recombined to form units again.
This move by ASPAC III Acquisition Corp., a company categorized under the "Blank Checks" industry according to its Standard Industrial Classification, provides investors with increased flexibility in how they choose to trade the company's securities. The company, which is based in the British Virgin Islands, has its principal executive offices located in Wan Chai, Hong Kong.
The decision to allow the separate trading of shares and rights is a common practice among acquisition corporations, such as ASPAC III, which are often formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
The news above is based on an SEC filing.
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