Plum Acquisition Corp III

Plum Acquisition Corp. III (OTC: PLMJF), formerly known as Alpha Partners Technology Merger Corp. before its February 2024 name change, is a Cayman Islands-incorporated special purpose acquisition company (SPAC) that raised $250.0 million in its initial public offering, with IPO proceeds placed into a trust account to fund a qualifying business combination. The company was originally formed to target acquisition opportunities in the technology sector and was subsequently renamed as part of a restructuring of the SPAC's management and strategic direction under the Plum Acquisition brand. SPACs of Plum Acquisition Corp. III's size — the $250 million IPO scale — have historically targeted established middle market and lower large cap companies across a variety of industries where the SPAC's capital can fund a transformative growth transaction.<br><br>The company announced a Business Combination Agreement on August 22, 2024, with Tactical Resources Corp., a corporation formed under the laws of the Province of British Columbia, Canada, that is focused on rare earth mineral resources. In October 2024, Tactical Resources and Plum Acquisition Corp. III announced the filing of an F-4 Registration Statement with the SEC to register the securities issuable in connection with the proposed business combination, representing a formal step toward completing the SPAC merger transaction and bringing Tactical Resources Corp. to the U.S. public market through the SPAC vehicle. Successive rounds of shareholder redemptions have significantly reduced the trust account from its original $250 million balance to approximately $486,624 by July 2025, reflecting the extent to which public shareholders elected to redeem their shares rather than remain invested.<br><br>Plum Acquisition Corp. III was delisted from the Nasdaq Capital Market on January 27, 2025, and its securities began trading on the OTC Markets under the ticker symbol PLMJF following the Nasdaq delisting. The company has until July 30, 2026 to close its proposed business combination with Tactical Resources Corp. or face liquidation of its remaining trust assets and dissolution of the SPAC structure. The company files annual reports on Form 10-K and quarterly reports on Form 10-Q with the Securities and Exchange Commission, maintaining its SEC reporting obligations throughout the period as it works to consummate the Tactical Resources transaction.