Latham Advises Black Spade Acquisition III Co on Business Combination With Astrum Space Inc.

Latham & Watkins has advised Black Spade Acquisition III Co on a business combination agreement with Astrum Space Inc. (Astrum), a satellite communications company developing a wholesale satellite‑to‑device broadcast and data‑distribution network. Upon completion of the transactions contemplated by the business combination agreement, it is expected that the combined company will be renamed Astrum Space Company and its ordinary shares will be listed on the New York Stock Exchange.

The business combination is expected to close by the end of 2026, subject to regulatory and shareholder approvals. Black Spade Acquisition III is the third SPAC of Black Spade Capital, and the transaction with Astrum is the second business combination in which Latham & Watkins has advised Black Spade.

The Latham team was led by Singapore corporate partners Sharon Lau and Stacey Wong, with Hong Kong counsel Yao Yang and Singapore associates Rami Marginean and Ein Le Lim. Advice was provided on communications matters by Washington, D.C. partner Elizabeth Park; on US tax matters by Washington, D.C. partners Abigail Friedman and Nicholas DeNovio, with associate Nolon Blaylock; on CFIUS matters by Washington, D.C. partner Les Carnegie and counsel Zachary Eddington; and on regulatory matters by Washington, D.C. partner Jim Barker.