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, cash used in operating activities was $383,057, with a net income of $8,997,926 impacted by interest earned on marketable securities of $9,465,640[145]. - For the nine months ended September 30, 2024, the company reported a net income of $5,367,368, with interest earned on marketable securities of $5,747,982[146]. 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]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025[153]. Initial Public Offering - The company generated gross proceeds of $287,500,000 from its Initial Public Offering of 28,750,000 Units at $10.00 per Unit, with additional proceeds of $7,000,000 from the sale of private placement warrants[143]. - The company incurred transaction costs of $20,269,166 related to the Initial Public Offering, including a cash underwriting fee of $5,000,000 and a deferred underwriting fee of $13,687,500[144]. Business Combination and Liquidity - 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, intended for identifying and evaluating target businesses and covering operational costs[148]. - Management plans to address liquidity concerns through a business combination, but there is uncertainty regarding the ability to raise additional capital if needed[150].
GP-ACT III Acquisition Corp.(GPATU) - 2025 Q3 - Quarterly Report