# EDGAR Filing Document

**Accession Number:** 0001878495
**File Stem:** 0001878495-25-000027
**Filing Date:** 2025-11
**Character Count:** 13920
**Document Hash:** c05270a30a3ee92d399e5cd7bfdbc483
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001878495-25-000027.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0001878495-25-000027

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**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:** 251477432

**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:** ATW SPAC MANAGEMENT LLC
- **CENTRAL INDEX KEY:** 0001878495

**ORGANIZATION NAME:**
- **EIN:** 811821114
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 1 PENNSYLVANIA PLAZA
- **STREET 2:** SUITE 4810
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10119
- **BUSINESS PHONE:** 646-975-5542

**MAIL ADDRESS:**
- **STREET 1:** 1 PENNSYLVANIA PLAZA
- **STREET 2:** SUITE 4810
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10119

## Ex-1

Exhibit I

JOINT FILING STATEMENT

PURSUANT TO RULE 13D-1(K)(1)

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 A SPAC 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.

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.

Dated: November 13, 2025

---

| | |
|:---|:---|
| ATW SPAC MANAGEMENT LLC | ATW SPAC MANAGEMENT LLC |
| By: | */s/ Kerry Propper* |
|  | Kerry Propper, Co-Managing Member |
| Kerry Propper | Kerry Propper |
| By: | */s/ Kerry Propper* |
|  | Individually |
| Antonio Ruiz-Gimenez | Antonio Ruiz-Gimenez |
| By: | */s/ Antonio Ruiz-Gimenez* |
|  | Individually |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Issuer:** A SPAC III Acquisition Corp.

**Title of Class of Securities:** Class A Ordinary Shares, no par value

**CUSIP Number:** G0544A137

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [x] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>ATW SPAC MANAGEMENT LLC | Names of Reporting Persons<br>ATW SPAC MANAGEMENT LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>389100 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>389100 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>389100 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>389100 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.9% | Percent of Class Represented by Amount in Row (9)<br>5.9% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, OO | Type of Reporting Person (See Instructions)<br>IA, OO |

**Comment for Type of Reporting Person:** Please see note in Item 4(a).

---

| 1. | Names of Reporting Persons<br>Kerry Propper | Names of Reporting Persons<br>Kerry Propper |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>490000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>490000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>490000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>490000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>7.5% | Percent of Class Represented by Amount in Row (9)<br>7.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

**Comment for Type of Reporting Person:** Please see note in Item 4(a).

---

| 1. | Names of Reporting Persons<br>Antonio Ruiz-Gimenez | Names of Reporting Persons<br>Antonio Ruiz-Gimenez |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>U3 | Citizenship or Place of Organization<br>U3 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>490000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>490000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>490000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>490000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>7.5% | Percent of Class Represented by Amount in Row (9)<br>7.5% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

**Comment for Type of Reporting Person:** Please see note in Item 4(a).

---

**Item 1(a). Name of Issuer:**
A SPAC III Acquisition Corp.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
200 Gloucester Road, 29th Floor
Wan Chi, Hong Kong 00000

**Item 2(a). Name of Person Filing:**
ATW SPAC Management LLC*
Kerry Propper*
Antonio Ruiz-Gimenez*

**Item 2(b). Address of Principal Business Office:**
1 Pennsylvania Plaza, Suite 4810
New York, New York 10119

**Item 2(c). Citizenship:**
ATW SPAC Management LLC - Delaware
Kerry Propper - United States
Antonio Ruiz-Gimenez - Spain

**Item 2(d). Title of Class of Securities:**
Class A Ordinary Shares, no par value

**Item 2(e). CUSIP Number:**
G0544A137

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [x] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [x] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

ATW SPAC Management LLC - 389,100*
Kerry Propper - 490,000*
Antonio Ruiz-Gimenez - 490,000*
*The Class A Ordinary Shares (the "Shares") of A SPAC III Acquisition Corp. (the "Issuer") are held by (1) one or more private funds managed by ATW SPAC Management LLC, a registered investment adviser (the "Adviser"), which has been delegated exclusive authority to vote and/or direct the disposition of certain Shares and (2) a private fund, SZOP Multistrat LP, managed by an affiliate of the Adviser. Kerry Propper and Antonio Ruiz-Gimenez are managing members of the Adviser and its affiliate.
The percentages reported herein are based upon the 6,555,000 Shares issued and outstanding as of August 13, 2025 as disclosed in the Issuer's Form 10-Q filed with the SEC on August 13, 2025.
This report shall not be deemed an admission that any reporting person herein or any other person is the beneficial owner of the securities reported herein for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Each of the reporting persons herein disclaims beneficial ownership of the Shares reported herein except to the extent of the reporting person's pecuniary interest therein, if any

**(b) Percent of class:**

ATW SPAC Management LLC - 5.9%
Kerry Propper - 7.5%
Antonio Ruiz-Gimenez - 7.5%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

ATW SPAC Management LLC - 0
Kerry Propper - 0
Antonio Ruiz-Gimenez - 0

**(ii) Shared power to vote or to direct the vote:**

ATW SPAC Management LLC - 389,100*
Kerry Propper - 490,000*
Antonio Ruiz-Gimenez - 490,000*

**(iii) Sole power to dispose or to direct the disposition of:**

ATW SPAC Management LLC - 0
Kerry Propper - 0
Antonio Ruiz-Gimenez - 0

**(iv) Shared power to dispose or to direct the disposition of:**

ATW SPAC Management LLC - 389,100*
Kerry Propper - 490,000*
Antonio Ruiz-Gimenez - 490,000*

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**ATW SPAC MANAGEMENT LLC**

**Date:** 11/13/2025

**By:** /s/ Kerry Propper

**Name & Title:** Kerry Propper, Co-Managing Member

**Kerry Propper**

**Date:** 11/13/2025

**By:** /s/ Kerry Propper

**Name & Title:** Individually

**Antonio Ruiz-Gimenez**

**Date:** 11/13/2025

**By:** /s/ Antonio Ruiz-Gimenez

**Name & Title:** Individually