Company: GPAC
Filing Date: 2025-10-14
Form Type: S-1
Source: 0001140361-25-038051
Chunk: 43

Company: General Purpose Acquisition Corp.
Filing Date: 2025-10-14
Form: S-1
Chunk 43
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 initial business combination in order to have our initial business combination approved (assuming all issued and outstanding shares are voted and the over-allotment option is not exercised). Assuming that only the holders of one-third of our issued and outstanding ordinary shares, representing a quorum under our amended and restated memorandum and articles of association, vote their shares, we will not need any public shares in addition to our founder shares and the private placement shares included in the private placement units purchased by our sponsor simultaneously with this offering to be voted in favor of an initial business combination in order to approve an initial business combination;

| • | the founder shares will automatically convert into our Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination or earlier at the option of the holder on a one-for-one basis (such Class A ordinary shares delivered upon conversion will not have any redemption rights or be entitled to liquidating distributions from the trust account if we fail to consummate an initial business combination), subject to adjustment pursuant to certain anti-dilution rights, as described below adjacent to the caption “Founder shares conversion and anti-dilution rights” and in our amended and restated memorandum and articles of association; and |

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| • | the founder shares are entitled to registration rights. |

Private placement units and underlying securities Our sponsor has agreed to purchase an aggregate of 400,000 private placement units (or up to 430,000 private placement units if the underwriters’ over-allotment option is exercised in full), at a price of $10.00 per unit, for an aggregate purchase price of $4,000,000 (or up to $4,300,000 if the underwriters’ over-allotment option is exercised in full) and the underwriters have agreed to purchase an aggregate of 200,000 private placement units (or up to 230,000 private placement units if the underwriters’ over-allotment option is exercised in full), at a price of $10.00 per unit, for an aggregate purchase price of $2,000,000 (or up to $2,300,000 if the underwriters’ over-allotment option is exercised in full), in each case in a private placement that will close simultaneously with the closing of this offering. A portion of the purchase price of the private placement units will be added to the proceeds of this offering to be held in the trust account described below. If we do not complete our initial business combination within 24