GP-Act III Acquisition Corp.
For the period ended Dec 31, 2024. Filed Mar 28, 2025.
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FY2024 · Filed Mar 28, 2025
GPAT$11.07+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Balance Sheets as of December 31, 2024 and 2023
BALANCE SHEETS
| December 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| Current assets | ||
| Cash | $483,572 | $1,208 |
| Prepaid expenses | 191,783 | 2,100 |
| Total Current Assets | 675,355 | 3,308 |
| Deferred offering costs | — | 526,930 |
| Long term prepaid insurance | 61,667 | — |
| Marketable securities in Trust Account | 296,736,638 | — |
| Total Assets | $297,473,660 | $530,238 |
| LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||
| Current liabilities | ||
| Accrued expenses | $231,605 | $— |
| Promissory note – related parties | 400,000 | 628,182 |
| Total Current Liabilities | 631,605 | 628,182 |
| Deferred legal fee | 350,000 | — |
| Deferred underwriting fee payable | 13,687,500 | — |
| Total Liabilities | 14,669,105 | 628,182 |
| Commitments and Contingencies | ||
| Class A ordinary shares subject to possible redemption, 28,750,000 shares at redemption value of $10.32 per share at December 31, 2024 | 296,736,638 | — |
| Shareholders’ Deficit | ||
| Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding as of December 31, 2024 | — | — |
| Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; none issued or outstanding (excluding 28,750,000 shares subject to possible redemption as of December 31, 2024) | — | — |
| Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 7,187,500 shares issued and outstanding(1) | 719 | 719 |
| Additional paid-in capital | — | 24,281 |
| Accumulated deficit | (13,932,802) | (122,944) |
| Total Shareholders’ Deficit | (13,932,083) | (97,944) |
| Total Liabilities and Shareholders’ Deficit | $297,473,660 | $530,238 |
| (1) | Includes an aggregate of up to 937,500 Class B ordinary shares subject to forfeiture by the holders thereof depending on the extent to which the underwriter’s over-allotment option is exercised (see Note 5). On February 1, 2021, the Company effected a share surrender pursuant to which 4,312,500 Class B ordinary shares were canceled, resulting in an aggregate of 7,187,500 Class B ordinary shares outstanding. On December 17, 2021, the Company effected a share capitalization with respect to Class B ordinary shares of 2,395,834 shares, resulting in the GPIAC II, LLC (the “GP sponsor”), IDS III LLC (the “Act III sponsor” and prior to March 7, 2024, together with GP sponsor, the “Co-sponsors”) and the Company’s independent directors at the time holding an aggregate of 9,583,334 Class B ordinary shares. On December 29, 2023, the Company effected a share surrender pursuant to which 2,395,834 Class B ordinary shares were canceled, resulting in an aggregate of 7,187,500 Class B ordinary shares outstanding. All share and per-share amounts have been retroactively restated to reflect the share capitalizations (see Note 5). On May 13, 2024, as a result of the underwriter’s election to fully exercise its over-allotment option, the 937,500 shares are no longer subject to forfeiture. |
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