Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $3,105,859, primarily from interest earned on marketable securities of $3,232,187, after deducting formation and operational costs of $126,328[140] - For the nine months ended September 30, 2025, the company achieved a net income of $8,997,926, with interest income from marketable securities totaling $9,465,640, offset by operational costs of $467,714[140] - Cash used in operating activities for the nine months ended September 30, 2025, was $383,057, with net income of $8,997,926 impacted by interest earned on marketable securities[145] Marketable Securities - As of September 30, 2025, the company held marketable securities in the Trust Account amounting to $306,202,278, which includes approximately $18,702,278 of interest income[147] Initial Public Offering - The company completed its Initial Public Offering on May 13, 2024, raising gross proceeds of $287,500,000 from the sale of 28,750,000 Units at $10.00 per Unit[143] - The company incurred transaction costs of $20,269,166 related to the Initial Public Offering, which included a cash underwriting fee of $5,000,000 and a deferred underwriting fee of $13,687,500[144] Business Operations and Future Plans - The company has until May 13, 2026, to complete its initial business combination, failing which it will trigger an automatic winding up and liquidation[149] - As of September 30, 2025, the company had cash of $145,453 available for identifying and evaluating target businesses and related operational expenses[148] - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025, and incurs a monthly fee of $5,000 for office space and administrative services[153][154] - Management plans to address going concern uncertainties through a business combination, but there is no assurance that such a combination will be completed within the required timeframe[151]
GP-ACT III Acquisition Corp.(GPAT) - 2025 Q3 - Quarterly Report