Astrum Space to Combine With Black Spade Acquisition III at $1 Billion Valuation

07:29 AM EDT, 08/27/2026 (MT Newswires) -- Black Spade Acquisition III (BIII) and Astrum Space, a satellite communications company, have signed a merger agreement that would give Astrum an equity value of about $1 billion and take it public, the companies said Thursday. When the merger is completed, the combined company will be renamed Astrum Space Company, and its shares will trade on the New York Stock Exchange, with Astrum shareholders expected to hold more than an 80% stake, the companies said. The deal is expected to close by the end of 2026, subject to regulatory and shareholder approvals, they added. Astrum Chief Executive Michael Do said the transaction is expected to bolster its commercialization strategy execution and expand partnerships.