ASPAC III Acquisition Corp.

ASPAC III Acquisition Corp. received a letter from Nasdaq on May 20, 2026, indicating non-compliance with the minimum stockholders' equity requirement of $2,500,000. The company's reported stockholders' equity for the fiscal quarter ended March 31, 2026, was below this threshold. ASPAC III has 45 calendar days to submit a plan to regain compliance, with a potential extension of up to 180 days if the plan is accepted. The company is currently working on a compliance plan, though there is no guarantee of regaining compliance or Nasdaq's acceptance of the plan.

ASPAC III Acquisition Corp. has entered into a definitive merger agreement with Bioserica International Limited, valuing Bioserica at $217.86 million. This follows the termination of a previous agreement with HD Group. The company faces significant challenges, including substantial shareholder redemptions of 5,717,419 Class A shares for $59.5 million, leaving only $2.9 million in the trust account. Management has also raised substantial doubt about the company's ability to continue as a going concern if a business combination is not completed by November 12, 2026.