Thu, Mar 27, 8:52 PM (30 days ago)
**GSR III Acquisition Corp. (GSRT) Summary** **Overview:** GSR III Acquisition Corp. is a Cayman Islands exempted company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company had no operating revenues as of December 31, 2024, and its activities relate to formation and the initial public offering (IPO). **Financial Performance:** - **Revenue:** $0 (no operating revenues until after the completion of the initial business combination). - **Net Income:** $949,295 for the year ended December 31, 2024, primarily from non-operating income earned on the Trust Account. - **Operating Expenses:** $462,814 for general and administrative expenses. - **Cash Flow:** $1,787,033 in cash held outside the Trust Account as of December 31, 2024. **Strategic Overview:** - **Business Strategy:** Leverage the team's expertise in SPAC-related mergers & acquisitions, strategic advisory, and capital markets to identify and complete an initial business combination. - **Target Criteria:** Focus on high-growth targets in software, technology-enabled manufacturing, mobility, transportation, and companies addressing ESG issues. **Future Outlook:** - **IPO Details:** Completed an IPO of 23,000,000 units, including 3,000,000 additional public units, generating gross proceeds of $230,000,000. - **Private Placement:** Completed a private placement of 422,500 units, generating total proceeds of $4,225,000. - **Trust Account:** $231,412,096 held in the Trust Account as of December 31, 2024. **Risk Factors:** - **Market Risks:** Competition from other SPACs and private equity firms, geopolitical instability, and regulatory changes. - **Financial Risks:** Dependence on completing a business combination within 18-21 months, potential redemption of shares, and the need for additional financing. - **Operational Risks:** Dependence on key personnel, potential conflicts of interest, and the need to maintain compliance with regulatory requirements. **Financial Condition:** - **Liquidity:** Sufficient cash to fund operations until the completion of a business combination. - **Capital Structure:** Dependence on the Trust Account and potential need for additional financing. **Market Position Changes:** - **Listing:** Units began trading on Nasdaq under the symbol "GSRT" on November 7, 2024. Ordinary shares and rights began trading on December 19, 2024. - **Market Value:** Aggregate market value of outstanding Class A Ordinary Shares was $231,648,525.00 as of December 30, 2024. **Ticker:** GSRT **Full Name:** GSR III Acquisition Corp.