A SPAC III ACQUISITION CORP

Ticker: ASPCR CUSIP: G0544A145 Class: RIGHT 01/02/2026

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (2)

BNP PARIBAS ARBITRAGE, SA

Value ($000) $12 Shares 63,236

GLAZER CAPITAL, LLC

Value ($000) $0 Shares 150,000

Institution	Shares	Value ($000)
BNP PARIBAS ARBITRAGE, SA	63,236	$12
GLAZER CAPITAL, LLC	150,000	$0

Increased Positions (2)

Clear Street Group Inc.

Value ($000) $54 (+63.8%) Shares 282,852 (+64.3%)

HIGHBRIDGE CAPITAL MANAGEMENT LLC

Value ($000) $74 (+15.9%) Shares 387,486 (+15.9%)

Institution	Prev Shares	Curr Shares	Change
Clear Street Group Inc.	172,144	282,852	+110,708 (+64.3%)
HIGHBRIDGE CAPITAL MANAGEMENT LLC	334,378	387,486	+53,108 (+15.9%)

Decreased Positions (7)

HEIGHTS CAPITAL MANAGEMENT, INC

Value ($000) $2 (-79.2%) Shares 10,219 (-79.2%)

TORONTO DOMINION BANK

Value ($000) $60 (-21.7%) Shares 315,000 (-21.3%)

AQR Arbitrage LLC

Value ($000) $35 (-16.6%) Shares 186,223 (-25.3%)

BOOTHBAY FUND MANAGEMENT, LLC

Value ($000) $67 (-9.5%) Shares 353,220 (-9.2%)

Hudson Bay Capital Management LP

Value ($000) $33 (-12.9%) Shares 174,680 (-12.7%)

WOLVERINE ASSET MANAGEMENT LLC

Value ($000) $36 (-4.7%) Shares 191,054 (-4.4%)

Value ($000) $4 (-15.6%) Shares 18,754 (-15.1%)

Institution	Prev Shares	Curr Shares	Change
HEIGHTS CAPITAL MANAGEMENT, INC	49,191	10,219	-38,972 (-79.2%)
TORONTO DOMINION BANK	400,000	315,000	-85,000 (-21.3%)
AQR Arbitrage LLC	249,459	186,223	-63,236 (-25.3%)
BOOTHBAY FUND MANAGEMENT, LLC	389,100	353,220	-35,880 (-9.2%)
Hudson Bay Capital Management LP	200,000	174,680	-25,320 (-12.7%)
WOLVERINE ASSET MANAGEMENT LLC	199,806	191,054	-8,752 (-4.4%)
UBS Group AG	22,098	18,754	-3,344 (-15.1%)