Company: GPAC
Filing Date: 2025-12-03
Form Type: 424B4
Source: 0001140361-25-044114
Chunk: 126

Company: General Purpose Acquisition Corp.
Filing Date: 2025-12-03
Form: 424B4
Chunk 126
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 ordinary shares to adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our securities; |

| ⯀ | a limited amount of news and analyst coverage; and |

| ⯀ | a decreased ability to issue additional securities or obtain additional financing in the future. |

The National Securities Markets Improvement Act of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which are referred to as “covered securities.” Because we expect that our units and eventually our Class A ordinary shares and warrants will be listed on Nasdaq, our units, Class A ordinary shares and warrants will qualify as covered securities under the statute. Although the states are preempted from regulating the sale of covered securities, the federal statute does allow the states to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict the sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities of blank check companies in their states. Further, if we were no longer listed on Nasdaq, our securities would not qualify as covered securities under the statute and we would be subject to regulation in each state in which we offer our securities. The founder shares held by our sponsor were issued at a nominal purchase price of $25,000, or approximately $0.004 per founder share, and, accordingly, you will experience immediate and material dilution from the purchase of our Class A ordinary shares. The difference between the public offering price per share (allocating all of the unit purchase price to the Class A ordinary shares and none to the warrant included in the unit) and the pro forma net tangible book value per Class A ordinary share after this offering constitutes the dilution to you and the other investors in this offering. Our sponsor acquired the founder shares at a nominal price, significantly contributing to this dilution. Upon the closing of this

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offering, and assuming no value is ascribed to the warrants included in the units, you and the other public shareholders will incur an immediate and material dilution of approximately 113.17% (or $11.32 per share, assuming