NEW
YORK, May 9, 2024 /PRNewswire/ -- GP-Act III
Acquisition Corp. (the "Company" or "GP-Act III"), a blank check
company, announced today the pricing of its initial public offering
of 25,000,000 units at a price of $10.00 per unit. The units are expected to be
listed on The Nasdaq Stock Market LLC ("Nasdaq") and begin trading
tomorrow, May 9, 2024, under the
ticker symbol "GPATU."
Each unit consists of one Class A ordinary share and one-half of
one redeemable warrant, each whole warrant entitling the holder
thereof to purchase one Class A ordinary share at a price of
$11.50 per share, subject to certain
adjustments. No fractional warrants will be issued upon separation
of the units and only whole warrants will trade. Once the
securities constituting the units begin separate trading, the Class
A ordinary shares and warrants are expected to be listed on Nasdaq
under the symbols "GPAT" and "GPATW," respectively.
GP-Act III is a tripartite partnership among GP Investments, IDS
III LLC, and Boxcar Partners III, LLC, combining decades of
experience in investing, building and managing multi-billion-dollar
private and public companies across sectors and geographies. The
Company is a Cayman Islands
exempted company whose business purpose is to effect a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses. While
the Company may pursue an initial business combination target in
any industry or geographic location (subject to certain limitations
described in the Company's prospectus), the Company intends to
focus its search on high potential businesses based in the United States.
The Company's management team is led by Fersen Lamas Lambranho
(Co-Chairman of the Board of Directors), Steven Spinner (Co-Chairman of the Board of
Directors), Antonio Bonchristiano
(Chief Executive Officer) and Rodrigo
Boscolo (Chief Financial Officer). The Company's Board of
Directors also includes Andrew
Fleiss, Alexandre Ruberti and
Sergio Pedreiro.
Cantor Fitzgerald & Co. is acting as sole book-running
manager for the offering.
The Company has granted the underwriter a 45-day option to
purchase up to an additional 3,750,000 units at the initial public
offering price to cover over-allotments, if any. The offering is
expected to close on May 13, 2024,
subject to customary closing conditions.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from Cantor
Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue,
5th Floor New York, New York
10022, or by email at prospectus@cantor.com.
A registration statement relating to the securities has been
filed with the U.S. Securities and Exchange Commission ("SEC") and
became effective on May 8, 2024. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
proposed initial public offering and search for an initial business
combination. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all.
Forward-looking statements are subject to numerous conditions,
many of which are beyond the control of the Company, including
those set forth in the Risk Factors section of the Company's
registration statement and prospectus for the Company's initial
public offering filed with the SEC. Copies of these documents are
available on the SEC's website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Investor Contacts
Rodrigo
Boscolo
investors@gp-act3.com
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SOURCE GP-Act III Acquisition Corp.