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Loeb & Loeb is representing Astrum Space Inc, a satellite communications company delivering next-generation satellite-to-device services across the Asia-Pacific region, in connection with its $1 billion business combination agreement with Black Spade Acquisition III Co (BIII), a special purpose acquisition company.
The Loeb team is providing comprehensive representation to Astrum throughout the transaction, including advising on the restructuring of the Astrum group, negotiating and drafting transaction agreements, conducting due diligence and advising on strategic and regulatory considerations.
The proposed transaction represents an important step in Astrum's growth strategy as the company advances the deployment of its next-generation satellite platform. With key spectrum and orbital resources already in place, Astrum is positioned to build on its development efforts and pursue long-term commercialization objectives. The business combination is expected to support the significant infrastructure investments required to scale the platform and bring the network into operation.
The business combination values Astrum at approximately $1 billion, excluding approximately $172.5 million held in BIII's trust account. Assuming no shareholder redemptions, existing Astrum shareholders are expected to own more than 80% of the combined company following the transaction.
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approvals and customary closing conditions. Upon completion of the transaction, the combined company will be renamed as “Astrum Space Company” and its ordinary shares will be listed on the New York Stock Exchange.
The Loeb team is being led by Corporate Partner Victor Chen and Capital Markets partner David Levine; and includes Capital Markets senior counsel Joan Guilfoyle and associate Ivan Chaykovskiy; Corporate partner Rima Moawad and associate Nina Nguyen; and Tax partner Natan Leyva.
For more information, please see Astrum’s press release.
The Loeb team is providing comprehensive representation to Astrum throughout the transaction, including advising on the restructuring of the Astrum group, negotiating and drafting transaction agreements, conducting due diligence and advising on strategic and regulatory considerations.
The proposed transaction represents an important step in Astrum's growth strategy as the company advances the deployment of its next-generation satellite platform. With key spectrum and orbital resources already in place, Astrum is positioned to build on its development efforts and pursue long-term commercialization objectives. The business combination is expected to support the significant infrastructure investments required to scale the platform and bring the network into operation.
The business combination values Astrum at approximately $1 billion, excluding approximately $172.5 million held in BIII's trust account. Assuming no shareholder redemptions, existing Astrum shareholders are expected to own more than 80% of the combined company following the transaction.
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approvals and customary closing conditions. Upon completion of the transaction, the combined company will be renamed as “Astrum Space Company” and its ordinary shares will be listed on the New York Stock Exchange.
The Loeb team is being led by Corporate Partner Victor Chen and Capital Markets partner David Levine; and includes Capital Markets senior counsel Joan Guilfoyle and associate Ivan Chaykovskiy; Corporate partner Rima Moawad and associate Nina Nguyen; and Tax partner Natan Leyva.
For more information, please see Astrum’s press release.
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