Company: GPAC
Filing Date: 2025-09-10
Form Type: DRS
Source: 0001140361-25-034565
Chunk: 46

Company: General Purpose Acquisition Corp.
Filing Date: 2025-09-10
Form: DRS
Chunk 46
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 Placement Warrants”).

Private placement units purchased by the underwriters are deemed underwriters’ compensation by FINRA pursuant to Rule 5110(e)(1) and (e)(2) of the FINRA Manual.

Transfer restrictions on founder shares and private placement units

Except as described herein, our sponsor, our management team and the underwriters have agreed not to transfer, assign or sell (i) any of their founder shares until the earlier of (A) one year following the completion of our initial business combination and (B) subsequent to the completion of our initial business combination, the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property; provided that, if the last sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 180 days after the completion of our initial business combination, the founder shares will be released from the lock-up, and (ii) any of their private placement units (including any private placement shares or private placement warrants**

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**included in such private placement units) until 30 days after the completion of our initial business combination. Except as described herein, our sponsor, directors and officers and the underwriters also agreed not to transfer any securities they hold for 180 days following the date of this prospectus. Any permitted transferees would be subject to the same restrictions and other agreements of our sponsor, management team and the underwriters with respect to any founder shares and private placement units (including their underlying securities). For more information on the letter agreement in which the transfer restrictions are included and for more information on the limited exceptions to such transfer restrictions, also see “Proposed Business —Initial Business Combination. ”

Cashless exercise of private placement warrants included in private placement units

If holders of private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering their warrants for that number of Class A ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “fair market value” (as defined below) over the