Mon, Dec 23, 9:40 PM (23 days ago)
For the quarter ending September 30, 2024, GSR III Acquisition Corp. (GSRT) reported a net loss of $85,810, leading to a cumulative net loss of $116,235 for the nine months. The company has not commenced operations, focusing on its formation and recent Initial Public Offering (IPO). As of September 30, 2024, total assets amounted to $749,792, primarily from deferred offering costs, while liabilities stood at $744,297, indicating a working capital deficit. The IPO, effective November 8, 2024, raised $230,000,000, with an additional $4,225,000 from a private placement. Transaction costs totaled $10,951,368. The company has a substantial trust account for future business combinations but faces uncertainties, including potential impacts from global events. Management expresses confidence in liquidity for operations beyond twelve months despite current losses. The financial statements reflect ongoing challenges, including significant administrative costs and reliance on external funding, particularly from related parties. Future operational viability hinges on successful business combinations within specified timeframes.