As of Aug 14, 2023, Black Spade Acquisition Co has 27,940 shares failed to deliver, representing 13.48% of the average daily volume of 207,236 shares. Over the past year, the monthly average FTD is 5,155 shares, with the current level 442% above the historical average, indicating elevated settlement pressure. The weighted FTD ratio above 1% suggests potential liquidity constraints or heightened short-selling activity.