BIII

BEARISH

$9.89 Live

Black Spade Acquisition III Co · NYSE

$9.83 52W Range $10.02

BIII Black Spade Acquisition III Co - Fundamental Analysis

BEARISH

Console Chart News

BIII Stock | Fundamental Analysis & Investment Insights

NYSE • Financial Services • Shell Companies

Current Price Live

$9.89

52W High

$10.02

52W Low

$9.83

Overview AI Snowflake Price Valuation Profitability Growth Health Peers SEC Filings

At a glance

Key valuation, profitability, growth, and risk metrics.

Updated Apr 25, 2026

Market cap

$227.47M

P/E

N/A

ROE

N/A

Profit margin

N/A

Debt/Equity

18.97

Dividend yield

N/A

AI Analysis

AI-powered fundamental assessment

Confidence

95%

BIII exhibits severe financial distress as indicated by a weak Piotroski F-Score of 2/9 and a catastrophic Price/Book ratio of -824.17. As a shell company, it lacks operational revenue and profitability, while maintaining an alarmingly high Debt/Equity ratio of 18.97. The current ratio of 0.88 suggests liquidity constraints, and the technical trend is entirely bearish. The stock is essentially trading at its nominal trust value, but the underlying balance sheet metrics are fundamentally broken.

Key Strengths

Price stability near the $10.00 par value typical of SPACs

Market capitalization provides some scale for potential acquisitions

Recent 1-month price stability (+0.2%)

Clear regulatory filing history (10-K filed March 2026)

Low volatility in the 52-week range

Key Risks

Extreme leverage with a Debt/Equity ratio of 18.97

Negative equity as evidenced by the Price/Book ratio of -824.17

Poor financial health indicated by a Piotroski F-Score of 2/9

Liquidity risk with a Current Ratio below 1.0 (0.88)

Complete lack of operational revenue or earnings growth

AI Fair Value Estimate

Based on comprehensive analysis

$9.85

-0.4% below current price

Performance Snowflake

Multi-dimensional analysis across 5 key categories

Overall

Weak

Value

Future

Past

Health

Dividend

AI Verdict

High Risk / Speculative Shell

Key drivers: Negative Book Value, Extreme Debt Levels, Zero Operational Income, Weak Piotroski Score

Confidence

90%

Value

5/100

Graham Number is N/A; valuation is based solely on trust value rather than fundamentals.

Positives

No standout positives identified.

Watchpoints

Price/Book is -824.17
No P/E or PEG available due to zero earnings

Future

20/100

Future value is binary, depending entirely on a successful business combination.

Positives

Potential for a merger target

Watchpoints

No revenue growth
No earnings growth

Past

30/100

Historical performance reflects a stagnant shell company.

Positives

Price has remained relatively flat

Watchpoints

1Y change is negative (-0.9%)
No historical growth trajectory

Health

10/100

Health is critical; the company is heavily leveraged with poor liquidity.

Positives

No standout positives identified.

Watchpoints

Piotroski F-Score 2/9
Debt/Equity 18.97
Current Ratio 0.88

Dividend

0/100

Typical for shell companies; no income generation.

Positives

No standout positives identified.

Watchpoints

No dividend yield
No payout history

Stock Price & Analyst Targets

Real-time price movements and analyst price targets

Current Price

$9.89

Multi-Horizon Performance vs Peers

Price momentum across 5Y → 1W horizons for BIII and closest competitors.

Updated 2026-04-24

Company	5Y	3Y	1Y	6M	1M	1W
BIII Black Spade Acquisition III Co Primary	-0.9%	-0.9%	-0.9%	-0.9%	+0.2%	+0.2%
CBNA Chain Bridge Bancorp, Inc. Peer	+65.6%	+65.6%	+44.0%	+12.6%	-0.8%	-2.3%
HWBK Hawthorn Bancshares, Inc. Peer	+95.2%	+65.3%	+20.3%	+14.9%	-1.5%	-2.5%
AIFU AIFU Inc. Peer	-99.3%	-98.8%	-75.2%	-67.8%	+11.1%	+4.6%
PEBK Peoples Bancorp of North Carolina, Inc. Peer	+110.8%	+57.0%	+67.5%	+41.6%	+12.8%	+0.3%

BII

Black Spade Acquisition III Co

Primary

-0.9%

+0.2%

CBN

Chain Bridge Bancorp, Inc.

Peer

+65.6%

+44.0%

+12.6%

-0.8%

-2.3%

HWB

Hawthorn Bancshares, Inc.

Peer

+95.2%

+65.3%

+20.3%

+14.9%

-1.5%

-2.5%

AIF

AIFU Inc.

Peer

-99.3%

-98.8%

-75.2%

-67.8%

+11.1%

+4.6%

PEB

Peoples Bancorp of North Carolina, Inc.

Peer

+110.8%

+57.0%

+67.5%

+41.6%

+12.8%

+0.3%

Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.

Valuation Metrics

Key valuation ratios and pricing indicators

N/A

-824.17

N/A

$227.47M

Profitability

Profit margins and return metrics

Profit Margin N/A

Operating Margin N/A

Gross Margin N/A

ROE N/A

ROA N/A

Growth

Revenue and earnings growth rates

Revenue Growth N/A

Earnings Growth N/A

Q/Q Revenue Growth N/A

Q/Q Earnings Growth N/A

Financial Health

Balance sheet strength and liquidity metrics

Debt/Equity

18.97

High debt

Current Ratio

0.88

Weak

Quick Ratio

0.88

Poor

Cash/Share

$N/A

Financial Services Sector Comparison

Comparing BIII against 648 companies in the Financial Services sector (117 bullish, 268 neutral, 263 bearish)

Debt to Equity

18.97

This Stock

1.52

Sector Avg

+1147.1% (Higher)

Current Ratio

0.88

This Stock

3.62

Sector Avg

-75.7% (Weaker)

Similar Companies

Peer comparison within the same industry

Company	AI Rating	Market Cap	P/E	ROE	Profit Margin	Price
BIII Black Spade Acquisition III Co	BEARISH	$227.47M	-	-%	-%	$9.89
CBNA Chain Bridge Bancorp, Inc.	NEUTRAL	$230.32M	11.62	12.9%	36.5%	$35.1	Compare
HWBK Hawthorn Bancshares, Inc.	BULLISH	$230.45M	9.73	14.7%	29.8%	$33.39	Compare
AIFU AIFU Inc.	BEARISH	$230.48M	0.17	-7.4%	-1.4%	$1.99	Compare
PEBK Peoples Bancorp of North...	NEUTRAL	$222.65M	11.55	13.8%	22.3%	$41.92	Compare

BIII Black Spade...

BEARISH

Mkt Cap

$227M

P/E

ROE

Price

$9.89

Compare with BIII

Compare with BIII

Compare with BIII

Compare with BIII

SEC Filings

Recent regulatory filings from the SEC EDGAR database

10-K

2026-03-06

BIII filed its 10-K on March 6, 2026, which includes sections on business operations, risk factors, and management's discussion and analysis of financial condition. No specific financial highlights or risk details were provided in the available excerpts.

10-Q

2026-02-19

BIII filed its 10-Q on February 19, 2026. The provided excerpt identifies the existence of Risk Factors under Item 1A, although no specific financial highlights or detailed risk descriptions were included in the available text.

8-K

FORM 8-K

2026-01-26

BioLineRx Ltd. (BIII) filed an 8-K, likely to announce preliminary financial results or a material corporate update for the fiscal year ended December 31, 2025.

8-K/A

FORM 8-K/A

2026-01-16

BioXcel Therapeutics, Inc. (BIII) filed an amendment to a previously submitted Form 8-K.

8-K

FORM 8-K

2026-01-13

8-K

FORM 8-K

2026-01-09

S-1/A

FORM S-1/A

2026-01-05

BIII filed an amended registration statement (Form S-1/A) on January 5, 2026, in connection with its proposed initial public offering.

S-1/A

2025-12-18

BIII filed an amended registration statement (Form S-1/A) on December 18, 2025, in connection with its proposed initial public offering.

S-1/A

FORM S-1/A

2025-12-12

BIII filed an amended registration statement (Form S-1/A) on December 12, 2025, as part of its process to register securities for a public offering.

S-1/A

2025-12-05

BIII filed an amended registration statement (Form S-1/A) on December 5, 2025, in connection with its proposed initial public offering.

S-1

2025-09-30

Data sourced from SEC EDGAR. AI summaries generated automatically.

Past News Coverage

Recent headlines mentioning BIII from our newsroom.

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BIII

BIII Black Spade Acquisition III Co - Fundamental Analysis

At a glance

AI Analysis

Key Strengths

Key Risks

Performance Snowflake

Stock Price & Analyst Targets

Multi-Horizon Performance vs Peers

Valuation Metrics

Profitability

Growth

Financial Health

Financial Services Sector Comparison

Similar Companies

SEC Filings

Past News Coverage

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