<SEC-DOCUMENT>0001549230-25-000037.txt : 20251114
<SEC-HEADER>0001549230-25-000037.hdr.sgml : 20251114
<ACCEPTANCE-DATETIME>20251114104858
ACCESSION NUMBER:		0001549230-25-000037
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251114
DATE AS OF CHANGE:		20251114

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASPAC III Acquisition Corp.
		CENTRAL INDEX KEY:			0001890361
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-94733
		FILM NUMBER:		251482591

	BUSINESS ADDRESS:	
		STREET 1:		200 GLOUCESTER ROAD
		STREET 2:		29TH FLOOR
		CITY:			WANCHAI
		STATE:			K3
		ZIP:			00000
		BUSINESS PHONE:		852 9258 9728

	MAIL ADDRESS:	
		STREET 1:		200 GLOUCESTER ROAD
		STREET 2:		29TH FLOOR
		CITY:			WANCHAI
		STATE:			K3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SPAC III Acquisition Corp.
		DATE OF NAME CHANGE:	20211025

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BOOTHBAY FUND MANAGEMENT, LLC
		CENTRAL INDEX KEY:			0001549230
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		140 EAST 45TH STREET
		STREET 2:		16TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		(212) 332-2679

	MAIL ADDRESS:	
		STREET 1:		140 EAST 45TH STREET
		STREET 2:		16TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001493152-24-045631</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001549230</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



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  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Class A ordinary shares, no par value</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001890361</issuerCik>
        <issuerName>ASPAC III Acquisition Corp.</issuerName>
        <issuerCusip>G0544A137</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>200 Gloucester Road</com:street1>
          <com:street2>29th Floor</com:street2>
          <com:city>Wan Chai</com:city>
          <com:stateOrCountry>K3</com:stateOrCountry>
          <com:zipCode>00000</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Boothbay Fund Management LLC</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>Please see note in Item 4(a)</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Boothbay Absolute Return Strategies, LP</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>Please see note in Item 4(a)</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>
      <reportingPersonName>Ari Glass</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>Please see note in Item 4(a)</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>ASPAC III Acquisition Corp.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>200 Gloucester Road, 29th Floor
Wan Chai, Hong Kong 00000</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Boothbay Fund Management, LLC*
Boothbay Absolute Return Strategies, LP*
Ari Glass*</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>140 East 45th Street, 16th Floor
New York, NY 10017</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Boothbay Fund Management, LLC - Delaware
Boothbay Absolute Return Strategies, LP - Delaware
Ari Glass - United States</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Boothbay Fund Management, LLC - 0*
Boothbay Absolute Return Strategies, LP - 0*
Ari Glass - 0*

*The ordinary shares (the Shares) of the Issuer reported herein are held in the form of units, each unit consists of one (1) Share and one right to receive 1/10th of one Share upon the consummation of the initial business combination, as described in more detail in the Issuers Prospectus filed with the SEC on November 8, 2024. The units are held by one or more private funds (the Funds), which are managed by Boothbay Fund Management, LLC, a Delaware limited liability company (the Adviser). Ari Glass is the Managing Member of the Adviser. The Adviser has delegated to certain subadvisors (collectively, Subadvisors) the authority to act on behalf of the Funds, including the sole authority to vote and direct the disposition of certain Shares held by the Funds, and such Shares may be reported in regulatory filings made by such Subadvisors.

However, this report is being made to the extent that, for the purposes of Reg. Section 240.13d-3, the reporting persons herein are deemed to beneficially own the Shares reported herein in the form of Units. The filing of this report shall not be deemed an admission, for purposes of Section 13(f), 13(d), 13(g) or 16(a) of the Securities Exchange Act of 1934, as amended (the Exchange Act) or otherwise, that the Adviser, the Funds, Ari Glass or any other person has beneficial ownership of any securities reported herein and, notwithstanding the inclusion of any security in this report, the Adviser, the Funds, and Ari Glass expressly disclaim beneficial ownership of any security reported herein, except to the extent of the Advisers, the Funds, or Ari Glasss pecuniary interest therein (if any), with respect to the Units which the Adviser has delegated sole investment and voting discretion to a Subadvisor and does not presently have the right to terminate such delegation within sixty days.</amountBeneficiallyOwned>
        <classPercent>Boothbay Fund Management, LLC - 0%*
Boothbay Absolute Return Strategies, LP - 0%*
Ari Glass - 0%*</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>Boothbay Fund Management, LLC - 0
Boothbay Absolute Return Strategies, LP - 0
Ari Glass - 0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Boothbay Fund Management, LLC - 0*
Boothbay Absolute Return Strategies, LP - 0*
Ari Glass - 0*</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>Boothbay Fund Management, LLC - 0
Boothbay Absolute Return Strategies, LP - 0
Ari Glass - 0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Boothbay Fund Management, LLC - 0*
Boothbay Absolute Return Strategies, LP - 0*
Ari Glass - 0*</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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.</certifications>
      </item10>
    </items>
    <exhibitInfo>Exhibit I - JOINT FILING STATEMENT</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Boothbay Fund Management LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ari Glass</signature>
        <title>Ari Glass, Managing Member</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Boothbay Absolute Return Strategies, LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ari Glass</signature>
        <title>Ari Glass, Managing Member of Boothbay Fund Management, LLC, its investment manager</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Ari Glass</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ari Glass</signature>
        <title>Individually</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>ex1.htm
<TEXT>
<!DOCTYPE html>
<html ><head></head><body style='font: 10pt Times New Roman, Times, Serif'>
<p style='text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>Exhibit I</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>JOINT FILING STATEMENT</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>PURSUANT TO RULE 13D-1(K)(1)</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 67.5pt'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>The undersigned hereby consent and agree to the joint
filing of Schedule 13G under the Securities Exchange Act of 1934, as amended, with respect to the Shares of ASPAC III Acquisition Corp.
together with any or all amendments thereto, when and if required. The parties hereto further consent and agree to file this Joint Filing
Statement pursuant to Rule13d-1(k)(1)(iii) as an exhibit to Schedule 13G, thereby incorporating the same into such Schedule 13G.</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>This Joint Filing Statement may be terminated by any
of the undersigned upon written notice or such lesser period of notice as the undersigned may mutually agree.</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>Dated: November 14, 2025</font></p>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></p>
<table cellspacing='0' cellpadding='0' style='font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse'>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></td>
<td colspan='2'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>Boothbay Fund Management LLC</font></td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td style='width: 50%'>&nbsp;</td><td style='width: 3%'>&nbsp;</td><td style='width: 47%'>&nbsp;</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>By:</td><td style='border-bottom: Black 1pt solid'><i>/s/
Ari Glass</i></td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>&nbsp;</td><td>Ari Glass, Managing Member</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></td>
<td colspan='2'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>Boothbay Absolute Return Strategies, LP</font></td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td style='width: 50%'>&nbsp;</td><td style='width: 3%'>&nbsp;</td><td style='width: 47%'>&nbsp;</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'>
<td style='padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></td>
<td style='padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>By:</font></td>
<td style='padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>Boothbay
Fund Management, LLC, its investment manager</font></td>
</tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td style='width: 50%'>&nbsp;</td><td style='width: 3%'>&nbsp;</td><td style='width: 47%'>&nbsp;</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>By:</td><td style='border-bottom: Black 1pt solid'><i>/s/
Ari Glass</i></td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>&nbsp;</td><td>Ari Glass, Managing Member</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></td>
<td colspan='2'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>Ari Glass</font></td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td style='width: 50%'>&nbsp;</td><td style='width: 3%'>&nbsp;</td><td style='width: 47%'>&nbsp;</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>By:</td><td style='border-bottom: Black 1pt solid'><i>/s/
Ari Glass</i></td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>&nbsp;</td><td>Individually</td></tr>
<tr style='font: 10pt Times New Roman, Times, Serif; vertical-align: top'><td>&nbsp;</td><td>&nbsp;</td><td>&nbsp;</td></tr>
</table>
<div style='margin-bottom: 6pt; border-bottom: Black 1pt solid'><table cellpadding='0' cellspacing='0' style='border-collapse: collapse; width: 100%; font-size: 10pt'><tr style='vertical-align: top; text-align: left'><td style='text-align: left; width: 100%'>&nbsp;</td></tr></table></div>
<p style='font: 10pt Times New Roman, Times, Serif; margin: 0pt'><font style='font-family: Times New Roman, Times, Serif; font-size: 10pt'>&nbsp;</font></p>
</body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
