Recently, we present a novel Mastrovito form of nonrecursive Karatsuba multiplier for all trinomials. Specifically, we found that related Mastrovito matrix is very simple for equally spaced trinomial (EST) combined with classic Karatsuba algorithm (KA), which leads to a highly efficient Karatsuba multiplier. In this paper, we consider a new special class of irreducible trinomial, namely, xm+xm/3+1. Based on a three-term KA and shifted polynomial basis (SPB), a novel bit-parallel multiplier is derived with better space and time complexity. As a main contribution, the proposed multiplier costs about 2/3 circuit gates of the fastest multipliers, while its time delay matches our former result. To the best of our knowledge, this is the first time that the space complexity bound is reached without increasing the gate delay.