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AI brief of an SEC Form 8-K · General Purpose Acquisition Corp. (GPAC)

General Purpose Acquisition Corp. closes $230 million IPO; trust holds $230 million

Neutral Impact 2 of 5 financing Written later

General Purpose Acquisition Corp. completed its initial public offering of 23,000,000 units at $10.00 per unit on December 4, 2025, generating $230 million in gross proceeds, including the full exercise of the underwriters' over-allotment option. The full $230 million was placed in a trust account, and the company filed an audited balance sheet as of December 4, 2025, as Exhibit 99.1, while stating it has not yet selected a business combination target.

Key points

  • 23,000,000 units sold at $10.00 each, including 3,000,000 units from the full over-allotment option, for $230,000,000 gross proceeds
  • Private placement of 660,000 units for $6,600,000 to the Sponsor (430,000 units) and Jefferies LLC (230,000 units)
  • $230,000,000 placed in a trust account at J.P. Morgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company
  • Audited balance sheet as of December 4, 2025 shows cash of $1,423,568 and total assets of $231,442,568

The filing

CompanyGeneral Purpose Acquisition Corp. (GPAC)
Form8-K, current report
Filed with the SECDec 10, 2025, 4:58 PM ET
Accession number0001140361-25-045151

Items reported: 8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 10, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.