ASPCU

A SPAC III Acquisition Corp. Units represent bundled securities combining common stock, warrants, and potentially rights issued together during the SPAC's initial public offering, providing investors with diversified exposure to the SPAC's business combination prospects through a single packaged security. Each unit typically consists of one common share, one or more warrants allowing future share purchases at predetermined strike prices, and possibly fractional rights providing additional modest upside participation. Units trade under the ASPCU ticker symbol during an initial period following the IPO (usually 52 days) before unit holders can elect to separate components into individual freely tradable securities including common stock, warrants, and rights which then trade under separate ticker symbols. The unit structure serves multiple purposes including simplifying IPO marketing by offering investors comprehensive exposure through a single security, enhancing initial offering demand by packaging warrants and rights as "sweeteners" alongside base common shares, and providing flexibility for investors with different risk preferences to later separate and trade components independently. Unit pricing reflects the combined value of constituent securities adjusted for time value, exercise probabilities, and investor preferences regarding diversification versus focused exposure to specific security types. Investors purchasing units during the IPO or shortly thereafter must decide whether to hold units through business combination anticipating portfolio value creation, separate components for active trading capturing relative value opportunities, or redeem common shares if they disapprove of the proposed merger target.