FORM 10-Q (MARK ONE)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2026 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto Commission file number: 001-42401 A SPAC III ACQUISITION CORP.(Exact Name of Registrant as Specified in Its Charter) Securities registered pursuant to Section 12(b) of the Act: Check whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reportingcompany”, and “emerging growth company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☒No☐ As of August 12, 2026, 2,337,481 Class A ordinary shares and 100 Class B ordinary shares were issued and outstanding. A SPAC III ACQUISITION CORP. FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2026 TABLE OF CONTENTS PagePart I. Financial Information1Item 1. Financial Statements1Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 20251Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2026and 20252Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Three and Six MonthsEnded June 30, 2026 and 20253Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 20254Notes to Unaudited Condensed Consolidated Financial Statements5Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations22Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk28Item 4. Controls and Procedures28Part II. Other Information29Item 1. Legal Proceedings29Item 1A. Risk Factors29Item 2. Unregistered Sales of Equity Securities and Use of Proceeds29Item 3. Defaults Upon Senior Securities30Item 4. Mine Safety Disclosures30Item 5. Other Information30Item 6. Exhibits30Part III. Signatures31 CAUTIONARY NOTECONCERNING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q includes “forward-looking statements” within the meaning of Section27A of the Securities Actof 1933, as amended (the “Securities Act”), and Section21E of the Securities Exchange Act of 1934, as amended (the “ExchangeAct”), that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from thoseexpected and projected. All statements, other than statements of historical fact included in this Form10-Q including, withoutlimitation, statements in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” regarding theCompany’s financial position, business strategy and the plans and objectives of management for future operations, are forward-lookingstatements. Words such as “expect,” “believe,” “anticipate,” “intend,” “estimate,” “seek” and variations and similar words andexpressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or futureperformance, but reflect management’s current beliefs, based on information currently available. A number of factors could causeactual events, performance or results to differ materially from the events, performance and results discussed in the forward-lookingstatements, including that the conditions of an initial business combination are not satisfied. For information identifying importantfactors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to RiskFactors section of the Company’s final prospectus for its initial public offering filed with the U.S. Securities and ExchangeCommission (the “SEC”) on November 8, 2024 (the “Prospectus”) and any updates to those risk factors in the most recent AnnualReport on Form 10-K filed with the SEC. The Company’s securitie