APAC vs BIII

StoneBridge Acquisition II Corp vs Black Spade Acquisition III Co — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — APAC scores higher on quality with 6.1/10 vs BIII's 4.1/10. APAC trades at $10.15 while BIII trades at $9.94. Both analyzed daily using SEC EDGAR data across 13 institutional models.

APAC

Blank Checks
StoneBridge Acquisition II Corp
Quality
6.1
out of 10
Value Trap
Price
$10.15
Last close
Models
12/13
Active
VS

BIII

Blank Checks
Black Spade Acquisition III Co
Quality
4.1
out of 10
Value Trap
Price
$9.94
Last close
Models
7/13
Active
APAC
2 models active
Limited to 2/13 visible models
BIII
2 models active
Quality 4.1/10 — below average

APAC vs BIII — Fair Value Comparison

APAC
$0$4$8$12 Price$10.15 Bayesian …$0.22 (-97.8%) Earnings …$0.40 (-96.1%)
BIII
$0$4$8$12 Price$9.94 Bayesian …$0.14 (-98.5%) Dynamic N…$3.50 (-64.7%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType APAC Fair ValueAPAC Upside BIII Fair ValueBIII Upside
Bayesian DCF Intrinsic $0.22 -97.8% $0.14 -98.5%
Earnings Power Value Intrinsic $0.40 -96.1%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
Dynamic NAV Asset-Based $3.67 -63.9% $3.50 -64.7%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

APAC vs BIII — Which Stock Is More Undervalued in 2026?

APAC scores higher with a 6.1/10 quality rating vs BIII's 4.1/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do APAC and BIII Valuations Compare?

At $10.15, APAC trades +97.8% above its Bayesian DCF fair value of $0.22, while BIII at $9.94 trades +98.5% above its estimate of $0.14. BIII shows a wider gap between price and intrinsic value.

Quality of Company: APAC vs BIII

APAC earns a Quality of Company score of 6.1/10 compared to BIII's 4.1/10. This moderate difference suggests one company has an edge in fundamental quality, though both may offer investment merit depending on valuation. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: APAC vs BIII

Review the value trap analysis for both APAC and BIII to assess whether apparent undervaluation reflects genuine opportunity or hidden fundamental risk.

Both in Blank Checks

Both APAC and BIII operate in Blank Checks, which has 19 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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