As of Jun 4, 2025, Black Spade Acquisition II Co has 8,382 shares failed to deliver, representing 5.64% of the average daily volume of 148,629 shares. Over the past year, the monthly average FTD is 4,103 shares, with the current level 104% above the historical average, indicating elevated settlement pressure. The weighted FTD ratio above 1% suggests potential liquidity constraints or heightened short-selling activity.