Company: GPAC
Filing Date: 2025-10-14
Form Type: S-1
Source: 0001140361-25-038051
Chunk: 4

Company: General Purpose Acquisition Corp.
Filing Date: 2025-10-14
Form: S-1
Chunk 4
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 A portion of the proceeds from the sale of the private placement units will be placed in the trust account described below. The private placement units purchased by the underwriters are deemed underwriters’ compensation by the Financial Industry Regulatory Authority (“FINRA”) pursuant to Rules 5110(e)(1) and (e)(2) of the FINRA Manual. Further, our sponsor currently owns 5,750,000of our Class B ordinary shares, par value $0.0001 per share (up to 750,000of which are subject to forfeiture), which will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination or earlier at the option of the holder on a one-for-one basis (such Class A ordinary share delivered upon conversion will not have any redemption rights or be entitled to liquidating distributions from the trust account if we fail to consummate an initial business combination), subject to adjustment as described herein. Prior to the completion of our initial business combination, only holders of our Class B ordinary shares will be entitled to vote on the appointment and removal of directors or in a vote to transfer the company by way of continuation to a jurisdiction outside the Cayman Islands. The founder shares held by our sponsor were purchased for $ 25,000, or approximately $ 0.004per share, which, as further described in this prospectus, may result in material dilution to public holders when converted into Class A ordinary shares or if the anti-dilution provision of the founder shares results in the issuance of Class A ordinary shares on a greater than one-to-one basis (for more information on dilution, also see the section entitled “ Dilution ”in this prospectus).As further described under “ Offering — Other Considerations and Conflicts of Interest — Compensation of Sponsor, Sponsor’s Affiliates and Directors and Officers,” we expect to make certain payments and reimbursements, or pay certain fees, to our sponsor, officers or directors, or our or their affiliates, including but not limited to the payment of $25,000 per month to our sponsor for office space, secretarial and administrative services. Our sponsor may also, but is not obligated to, enter into certain arrangements with us to finance transaction costs in connection with an initial business combination, including up to $1,500,000 of loans convertible into private placement units at a price of $10.00 per private placement unit at the option of the lender. As more fully discussed in the section of this

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