Company: GPAC
Filing Date: 2025-11-18
Form Type: S-1/A
Source: 0001140361-25-042608
Chunk: 174

Company: General Purpose Acquisition Corp.
Filing Date: 2025-11-18
Form: S-1/A
Chunk 174
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 the equity interest of investors in this offering, which dilution would increase if the anti-dilution provisions in the Class B ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the Class B ordinary shares; |

| ■ | may subordinate the rights of holders of Class A ordinary shares if preference shares are issued with rights senior to those afforded to Class A ordinary shares; |

| ■ | could cause a change in control if a substantial number of Class A ordinary shares are issued, which may affect, among other things, the post-business combination company’s ability to use its net operating loss carry forwards, if any, and could result in the resignation or removal of the post-business combination company’s officers and directors; |

| ■ | may have the effect of delaying or preventing a change of control of the post-business combination company by diluting the share ownership or voting rights of a person seeking to obtain control of the post-business combination company; |

| ■ | may adversely affect prevailing market prices for our units, Class A ordinary shares and/or warrants; and |

| ■ | may not result in adjustment to the exercise price of our warrants. |

Similarly, if we issue debt securities or otherwise incur significant debt to banks or other lenders or the owners of a target, it could result in:

| ■ | default and foreclosure on the assets of the post-business combination company if its operating revenues are insufficient to repay its debt obligations; |

| ■ | acceleration of the post-business combination company’s obligations to repay such indebtedness, even if it makes all principal and interest payments when due, if it breaches certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant; |

| ■ | the post-business combination company’s immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand; |

| ■ | post-business combination company’s inability to obtain necessary additional financing if the debt security contains covenants restricting its ability to obtain such financing while the debt security is outstanding; |

| ■ | using a substantial portion of the post-business combination company’s cash flow to pay principal and interest on its debt, which will reduce the funds available for expenses, capital expenditures, acquisitions and other general corporate purposes; |

| ■ | limitations on the post-business combination company’s flexibility in planning for and reacting to changes in its business and in the industry in which it operates; |

| ■ | increased vulnerability to adverse changes in general economic, industry