The IPO Buzz: Art Technology Acquisition (ARTCU) & Black Spade Acquisition III (BIIIU) Raise $370 Million Total

By Jan Paschal Posted Jan. 6, 2026

Two SPACs – Art Technology Acquisition (ARTCU) and Black Spade Acquisition III (BIIIU)  raised a total of $370 million on Monday night, Jan. 5, 2026 – to kick off the new year. Both SPACs are set to start trading today – Tuesday, Jan. 6, 2026: Art Technology Acquisition on the NASDAQ and Black Spade Acquisition III on the NYSE. Both are incorporated in the Cayman Islands. Pricing details below:

–Art Technology Acquisition (ARTCU) – 22 million units at $10.00 each to raise $220 million – NASDAQ – Clear Street was the sole book-runner. Daniel Cohen, the CEO and chairman, is the son of the pioneering SPAC sponsor Betsy Cohen, who is not involved in this deal. Each unit consists of one share of common stock and one-fourth of one redeemable warrant.

This Philadelphia-based SPAC will search for a target company in the technology, art, financial services and adjacent sectors, the prospectus said.

Katherine Fleming, the vice chairman of Art Technology Acquisition, is the CEO and president of the J. Paul Getty Trust. She is also the former provost of New York University.

–Black Spade Acquisition III (BIIIU) – 15 million units at $10.00 each to raise $150 million – New York Stock Exchange – Cohen & Company Capital Markets and Chardan acted as the joint book-runners. Each unit consists of one share of stock and one-third of one redeemable warrant.

Black Spade Acquisition III, based in Hong Kong, intends to focus on the leisure, entertainment and digital asset sectors in its search for an acquisition target, the prospectus said. The SPAC will consider companies involved in digital assets, Web3 technologies and financial services infrastructure as well as those with blockchain-driven business models.

Black Spade Acquisition III Co.’s management team is led by three co-CEOs:

-Dennis Tam, co-CEO and board chairman, is the president and CEO of Black Spade Capital.

-Kester Ng, co-CEO and CFO, is the CEO of GRE Investment Advisors. He is also a managing partner of the NM Strategic Focus Fund.

-Richard Taylor, co-CEO and COO, previously served as a managing director at GRE Investment Advisors.

(For more information about these companies, please check the IPO Calendar  and the individual IPO Profiles found on the IPOScoop.com  website.)  Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. 

Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.

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Source: https://www.iposcoop.com/the-ipo-buzz-art-technology-acquisition-artcu-black-spade-acquisition-iii-biiiu-raise-370-million-total/