TD Securities (USA) LLC and three affiliated entities filed a Schedule 13G with the SEC on November 13, 2026, disclosing beneficial ownership of Class A Ordinary Shares of Black Spade Acquisition III Co as of September 30, 2026.

Key Highlights

  • Reporting entity: TD Securities (USA) LLC, a Delaware-organized broker-dealer, is the sole beneficial owner of the shares reported.
  • Shares held: TD Securities (USA) LLC reported 1,171,734 Class A Ordinary Shares, par value $0.0001 per share (CUSIP G1154S103).
  • Percent of class: The 1,171,734 shares represent 6.8% of the class, according to the filing.
  • Voting and dispositive power: TD Securities (USA) LLC holds sole voting power and sole dispositive power over all 1,171,734 shares; shared power is reported as zero for all filers.
  • Joint filers: Toronto Dominion Holdings USA Inc, TD Group US Holdings LLC, and The Toronto-Dominion Bank are co-filers but each reports zero beneficial ownership directly.
  • Triggering date: The event requiring the filing occurred on September 30, 2026.

TD Securities Discloses 6.8% Position in Black Spade Acquisition III Class A Shares

According to the filing, TD Securities (USA) LLC ("TDS"), a Delaware-incorporated broker-dealer, holds 1,171,734 Class A Ordinary Shares of Black Spade Acquisition III Co, constituting 6.8% of that class. The issuer, Black Spade Acquisition III Co, is headquartered at The Centrium, 60 Wyndham Street, Suite 2902, 29/F, Central, Hong Kong. TDS reported both sole voting power and sole dispositive power over all 1,171,734 shares, with no shared voting or dispositive power.

The Schedule 13G was filed jointly by four entities within the TD corporate structure: TDS, Toronto Dominion Holdings USA Inc ("TDH"), TD Group US Holdings LLC ("TD GUS"), and The Toronto-Dominion Bank ("TD Bank"). The filing states that TDH is the sole owner of TDS, TD GUS is the sole owner of TDH, and TD Bank is the sole owner of TD GUS. The filing notes that TDH, TD GUS, and TD Bank "may be deemed to hold an indirect interest in the shares reported herein by virtue of their ownership of TDS." Each of TDH, TD GUS, and TD Bank reported zero direct beneficial ownership and each "disclaims ownership of the shares reported herein except to the extent of its pecuniary interest therein," according to the filing.

The filing certifies, as required under Schedule 13G, that the securities "were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer." The statement was signed on November 13, 2026, by Christina Petrou, identified as Executive Vice President and Chief Operating Officer, on behalf of both TD Securities (USA) LLC and Toronto Dominion Holdings USA Inc.

What Was Disclosed

Four TD-affiliated entities jointly filed a Schedule 13G reporting that TD Securities (USA) LLC holds 1,171,734 Class A Ordinary Shares, or 6.8%, of Black Spade Acquisition III Co as of September 30, 2026, with sole voting and dispositive power over all reported shares.