Company: GPAC
Filing Date: 2025-12-03
Form Type: 424B4
Source: 0001140361-25-044114
Chunk: 183

Company: General Purpose Acquisition Corp.
Filing Date: 2025-12-03
Form: 424B4
Chunk 183
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 may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders’ investment in us .” Controls and Procedures We are not currently required to maintain an effective system of internal controls as defined by Section 404 of the Sarbanes-Oxley Act. We will be required to comply with the internal control requirements of the Sarbanes-Oxley Act for the fiscal year ending December 31, 2026. Only in the event that we are deemed to be a large accelerated filer or an accelerated filer and no longer qualify as an emerging growth company would we be required to comply with the independent registered public accounting firm attestation requirement on internal control over financial reporting. Further, for as long as we remain an emerging growth company as defined in the JOBS Act, we intend to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirement. Prior to the closing of this offering, we have not completed an assessment, nor have our auditors tested our systems, of our internal controls. We expect to assess the internal controls of our target business or businesses prior to the completion of our initial business combination and, if necessary, to implement and test additional controls as we may determine are necessary in order to state that we maintain an effective system of internal controls. A target business may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding the adequacy of internal controls. Many small and mid-sized target businesses we may consider for our initial business combination may have internal controls that need improvement in areas such as:

| ⯀ | staffing for financial, accounting and external reporting areas, including segregation of duties; |

| ⯀ | reconciliation of accounts; |

| ⯀ | proper recording of expenses and liabilities in the period to which they relate; |

| ⯀ | evidence of internal review and approval of accounting transactions; |

| ⯀ | documentation of processes, assumptions and conclusions underlying significant estimates; and |

| ⯀ | documentation of accounting policies and procedures. |

Because it will take time, management involvement and perhaps outside resources to determine what internal control improvements are necessary for us to meet regulatory requirements and market expectations for our operation of a target business, we may incur significant expenses in meeting our public reporting responsibilities, particularly in the areas of designing, enhancing, or remediating internal and disclosure controls. Doing so