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Director Anson Chan reported selling 5,000,000 ordinary shares and 8,966,000 warrants of ASPAC II Acquisition Corp. (EXCHANGE:ASUUF) on July 7, 2025. The shares were sold at a price of $0, while the warrants were sold at $1 each. The transaction comes as ASPAC II, currently valued at $64.9 million, trades at $11.49 per share, near its 52-week low of $10.61. InvestingPro analysis indicates the company faces liquidity challenges, with short-term obligations exceeding liquid assets.
The filing indicates that Chan sold his interest in A SPAC II (Holdings) Corp. to Yip Tsz Yan for a total of $98,750. As a result of this transaction, Chan no longer holds any equity interests in A SPAC II (Holdings) Corp. and therefore no longer shares the voting or dispositive power over the Issuer’s shares or warrants held by A SPAC II (Holdings) Corp. Want deeper insights into ASPAC II’s financial health and valuation metrics? InvestingPro subscribers have access to over 30 additional financial metrics and exclusive analysis.
In other recent news, Aspac II Acquisition Corp. announced it has entered into a material definitive agreement involving the issuance of an unsecured promissory note to its sponsor, Aspac II (Holdings) Corp. The note, issued on July 14, 2025, is valued at $152,000 and is payable upon the completion of Aspac II Acquisition Corp.’s initial business combination. The sponsor has the option to convert this note into warrants at a conversion price of $1.00 per warrant, matching the terms of the company’s public warrants. The note, notably, does not bear any interest. Proceeds from this financial maneuver are earmarked for covering various expenses and supporting working capital needs. This development was disclosed in a recent SEC Form 8-K filing by the company. Aspac II Acquisition Corp. is incorporated in the British Virgin Islands and trades its securities on the OTC market.
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