Company: GPAC
Filing Date: 2025-12-03
Form Type: 424B4
Source: 0001140361-25-044114
Chunk: 289

Company: General Purpose Acquisition Corp.
Filing Date: 2025-12-03
Form: 424B4
Chunk 289
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 market value. For these purposes, the “fair market value” shall mean the average reported last sale price of the Class A ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants will be exercisable on a cashless basis so long as they are held by our sponsor and its permitted transferees is because it is not known at this time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their ability to sell our securities in the open market will be significantly limited. We expect to have policies in place that restrict insiders from selling our securities except

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during specific periods of time. Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities if he or she is in possession of material non-public information. Accordingly, unlike public shareholders who could exercise their warrants and sell the Class A ordinary shares received upon such exercise freely in the open market in order to recoup the cost of such exercise, the insiders could be significantly restricted from selling such securities. As a result, we believe that allowing the holders to exercise such warrants on a cashless basis is appropriate. Our sponsor or an affiliate of our sponsor or certain of our officers and directors have the right, but not the obligation, to loan us funds interest free and on substantially the same terms as our existing promissory note. Up to $1,500,000 of such loans may be convertible into private placement units of the post business combination entity at a price of $10.00 per unit at the option of the lender. The private placement units issued upon conversion of any such loans would be identical to the private placement units sold in a private placement concurrently with this offering and each such private placement unit would include one-half of a private placement warrant. Register of Members Under the Companies Act, we must keep a register of members and there should be entered therein:

| ⯀ | the names and addresses of the members of the company, a statement of the shares held by each member, which: |

| ⯀ | distinguishes each share by its number (so long as the share has a number); |

| ⯀ | confirms the amount paid, or agreed to be considered as paid, on the shares of each member; |

| ⯀ | confirms the number