Aristeia Capital, L.L.C. reports beneficial ownership of 1,100,000 Class A ordinary shares of Black Spade Acquisition III. The filing states this equals 6.38% of the class based on 17,250,000 shares outstanding as of February 27, 2026 reported in the issuer's 10-K. The Schedule 13G is signed by Andrew B. David on May 14, 2026.
Positive
None.
Negative
None.
Insights
Large passive stake disclosed: 1.1M shares (6.38%).
The filing shows Aristeia Capital, L.L.C. beneficially owns 1,100,000 shares, representing 6.38% of the outstanding Class A ordinary shares based on the issuer's reported outstanding count of 17,250,000 as of February 27, 2026.
Whether this reflects active engagement or passive holding depends on the filer’s intent; subsequent filings may clarify the investment purpose or changes in ownership.
Voting and disposition powers are sole, not shared.
The Schedule 13G lists 1,100,000 shares under sole voting power and sole dispositive power, indicating control over voting and disposition decisions for that block.
Watch future disclosures for any amendments, conversion of holding type, or transactions that would alter voting percentages.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
BLACK SPADE ACQUISITION III CO
(Name of Issuer)
Class A ordinary shares, $0.0001 par value, included as part of the units
(Title of Class of Securities)
G1154S103
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G1154S103
1
Names of Reporting Persons
Aristeia Capital, L.L.C.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,100,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,100,000.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,100,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.38 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
BLACK SPADE ACQUISITION III CO
(b)
Address of issuer's principal executive offices:
Suite 2902, 29/F, The Centrium, 60 Wyndham Street, Central Hong Kong
Item 2.
(a)
Name of person filing:
Aristeia Capital, L.L.C.
(b)
Address or principal business office or, if none, residence:
One Greenwich Plaza, Suite 300, Greenwich, CT 06830
(c)
Citizenship:
Delaware
(d)
Title of class of securities:
Class A ordinary shares, $0.0001 par value, included as part of the units
(e)
CUSIP Number(s):
G1154S103
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
1,100,000
The Reporting Person may be deemed the beneficial owner of 1,100,000 Class A ordinary shares, which is approximately 6.38% of the outstanding shares. This percentage was determined by dividing 1,100,000 by 17,250,000, which is the number of shares outstanding as of February 27, 2026, as reported in the Issuer's 10-K filed with the SEC on March 6, 2026.
(b)
Percent of class:
6.38%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
1,100,000
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
1,100,000
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Aristeia Capital, L.L.C.
Signature:
/s/ Andrew B. David
Name/Title:
Andrew B. David / Chief Operating Officer, Aristeia Capital, L.L.C.
