Company: GPAC
Filing Date: 2025-11-18
Form Type: S-1/A
Source: 0001140361-25-042608
Chunk: 46

Company: General Purpose Acquisition Corp.
Filing Date: 2025-11-18
Form: S-1/A
Chunk 46
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 placement shares included in any private placement units they hold if we fail to consummate an initial business combination within 24 months from the closing of this offering (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within 24 months from the closing of this offering). In addition, our sponsor has agreed to vote any private placement shares included in any private placement units held by it in favor of our initial business combination. The private placement warrants will be non-redeemable by us and exercisable for cash or on a “cashless basis” (see “Description of Securities — Warrants — Private Placement Warrants”). Private placement units purchased by the underwriters are deemed underwriters’ compensation by FINRA pursuant to Rule 5110(e)(1) and (e)(2) of the FINRA Manual. Transfer restrictions on founder shares and private placement units Except as described herein, our sponsor, our management team and the underwriters have agreed not to transfer, assign or sell (i) any of their founder shares until the earlier of (A) one year following the completion of our initial business combination and (B) subsequent to the completion of our initial business combination, the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property; provided that, if the last sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 180 days after the completion of our initial business combination, the founder shares will be released from the lock-up, and (ii) any of their private placement units (including any private placement shares or private placement warrants 30 TABLE OF CONTENTS included in such private placement units) until 30 days after the completion of our initial business combination. Except as described herein, our sponsor, directors and officers and the underwriters also agreed not to transfer any securities they hold for 180 days following the date of this prospectus. Any permitted transferees would be subject to the same restrictions and other agreements of our sponsor, management team and the underwriters with respect to any founder shares and private placement units (including their underlying securities). For more information