A SPAC III Acquisition Corp. Announces Closing of $55 Million Initial Public Offering

HONG KONG,Nov. 13,2024 -- A SPAC III Acquisition Corp. (the "Company"),a blank check company incorporated as a British Virgin Islands exempted company formed for the purpose of effecting a merger,share exchange,asset acquisition,stock purchase,reorganization or similar business combination with one or more businesses,today announced the closing of its previously announced initial public offering of 5,500,000 units at an offering price of $10.00 per unit,with each unit consisting of one Class A ordinary share and one right. Each right entitles the holder to receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Company's initial business combination. The units began trading on the Nasdaq Capital Market ("Nasdaq") under the ticker symbol "ASPCU" on November 8,2024. Once the securities comprising the units begin separate trading,the Class A ordinary shares and rights will be traded on Nasdaq under the symbols "ASPC" and "ASPCR," respectively.

Maxim Group LLC acted as the sole book-running manager for the offering.

The Company has granted the underwriter a 45-day option to purchase up to 825,000 additional units at the initial public offering price less the underwriting discount to cover over-allotments,if any.

A registration statement on Form S-1 (File No. 333-282428) (the "Registration Statement") relating to the securities to be sold in the initial public offering,as amended,was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on November 8,2024. The offering is being made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Maxim Group LLC,300 Park Avenue,16thFloor,New York,NY 10022,Attention: Syndicate Department,by telephone at (212) 895-3745 or by email at [email protected],or by accessing the SEC's website,www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy,nor shall there be any sale of these securities in any state or jurisdiction in which such offer,solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

AboutA SPAC III Acquisition Corp.

A SPAC III Acquisition Corp. is a blank check company,also commonly referred to as a special purpose acquisition company,or SPAC,formed for the purpose of effecting a merger,reorganization or similar business combination with one or more businesses. A SPAC III Acquisition Corp. intends to focus on businesses in the Environmental,Sustainability and Governance (ESG) and material technology sectors.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds and search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated.Forward-looking statements are subject to numerous conditions,many of which are beyond the control of the Company,including those set forth in the Risk Factors section of the Registration Statement and related preliminary prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC's website,www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release,except as required by law.