Company: GPAC
Filing Date: 2025-10-14
Form Type: S-1
Source: 0001140361-25-038051
Chunk: 166

Company: General Purpose Acquisition Corp.
Filing Date: 2025-10-14
Form: S-1
Chunk 166
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 trust, funds from permitted withdrawals and funds available to us from loans from our sponsor, members of our management team or any of their affiliates will be sufficient to pay the costs and expenses to which such proceeds are allocated and that are payable prior to the closing of our initial business combination. However, if our estimate of the costs of undertaking in-depth due diligence and negotiating a business combination is

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TABLE OF CONTENTS less than the actual amount necessary to do so, we may be required to raise additional capital, the amount, availability and cost of which is currently unascertainable. If we are required to seek additional capital, we could seek such additional capital through loans or additional investments from our sponsor, members of our management team or any of their affiliates, but such persons are not under any obligation to advance funds to, or invest in, us. We will pay our sponsor for office space, secretarial and administrative services provided to members of our management team, in the amount of $25,000 per month. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. Under a promissory note, our sponsor has agreed to loan us up to $300,000 to be used for a portion of the expenses of this offering. As of August 11, 2025, we have not borrowed under the promissory note. These loans are non-interest bearing, unsecured and are due at the earlier of December 31, 2026 or the closing of this offering. The loans will be repaid upon the closing of this offering out of the approximately $700,000 of offering proceeds that has been allocated to the payment of offering expenses. In addition, in order to finance transaction costs in connection with an intended initial business combination, our sponsor, affiliates of our sponsor or our officers and directors may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination, we may repay such loaned amounts out of the proceeds of the trust account released to us. Otherwise, such loans would be repaid only out of funds held outside the trust account and funds received from permitted withdrawals. In the event that our initial business combination does not close, we may use a portion of the working capital held outside the trust account and funds received from permitted withdrawals to repay such loaned amounts but no proceeds from our trust account would be used to repay such loaned amounts. Up to $1,500,000 of such loans may be convertible into private placement units