General Purpose Acquisition Corp. Announces Pricing of $200,000,000 Initial Public Offering

Rhea-AI Summary

General Purpose Acquisition Corp (Nasdaq: GPACU) priced a $200,000,000 initial public offering of 20,000,000 units at $10.00 per unit on December 2, 2025. Each unit includes one Class A ordinary share and one-half redeemable warrant; whole warrants exercisable at $11.50 per share. Units begin trading on Nasdaq as GPACU on December 3, 2025; Class A shares and warrants expected to trade as GPAC and GPACW once separated. The offering is expected to close December 4, 2025, subject to customary conditions, and includes a 45-day option to purchase up to 3,000,000 additional units.

Positive

• Gross proceeds of $200,000,000 from initial unit sale
• Each unit includes a $11.50 exercisable warrant component
• Nasdaq listing under GPACU begins December 3, 2025
• Underwriters granted 45-day option for up to 3,000,000 units

Negative

• Up to 10,000,000 shares could be issued upon warrant exercise
• Over-allotment option equals 15% of base offering (3,000,000 units)
• No assurance the offering will complete on described terms

Insights

Capital Markets Analyst

SPAC priced 20,000,000 units for gross proceeds of $200,000,000; expected Nasdaq listing and close in early December 2025.

The offering sells 20,000,000 units at $10.00 per unit, each containing one Class A share and one-half warrant, with whole warrants exercisable at $11.50. The underwriters hold a 45-day option for up to 3,000,000 additional units. Trading of units begins on December 3, 2025 and the expected close is December 4, 2025.

The transaction mechanism is plain: the company raises cash now to fund a future business combination. Key dependencies include successful closing on the stated December 4, 2025 timeline and the usual SEC and state compliance conditions. Risks include possible failure to complete the offering, exercise of the overallotment option, and dilution from warrants; the press release notes no guarantee the offering will complete.

Watch for the actual closing on December 4, 2025, the exercise of the 3,000,000-unit over-allotment within 45 days, and the separate listing of Class A shares and warrants under the tickers GPAC and GPACW. These items will clarify final proceeds and potential dilution over the next 45 days.

MILLBROOK, NY / ACCESS Newswire / December 2, 2025 / General Purpose Acquisition Corp. (the "Company") announced today that it priced its initial public offering of 20,000,000 units at a price of $10.00 per unit. Each unit consists of one Class A ordinary share, par value $0.0001 per share, and one-half of one redeemable warrant, each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants will be exercisable. The units will be listed on The Nasdaq Global Market ("Nasdaq") and trade under the ticker symbol "GPACU" beginning December 3, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "GPAC" and "GPACW," respectively. The offering is expected to close on December 4, 2025, subject to customary closing conditions.

The Company is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company is led by Chairman and Chief Executive Officer, Peter Georgiopoulos, President and Director, Leonard Vrondissis and Chief Financial Officer, Stewart Crawford.

Jefferies is acting as the sole book-running manager and Ladenburg Thalmann and Northland Capital Markets are acting as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, or by telephone at 877-821-7388 or by email at Prospectus_Department@Jefferies.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission ("SEC") on December 2, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact
Stewart Crawford
+1 845 677 4650
info@generalacquisition.com

SOURCE: General Purpose Acquisition Corp.

View the original press release on ACCESS Newswire

FAQ

What did GPACU price its IPO at and how many units were offered?

GPACU priced 20,000,000 units at $10.00 per unit for gross proceeds of $200,000,000.

When will GPACU begin trading on Nasdaq and under what ticker?

Units begin trading on Nasdaq as GPACU on December 3, 2025.

What is the warrant exercise price and how many warrants were issued with the IPO?

Each whole warrant is exercisable at $11.50; the offering includes one-half warrant per unit, equal to 10,000,000 whole warrants if all units are sold.

When is the GPACU offering expected to close and are there closing conditions?

The offering is expected to close on December 4, 2025, subject to customary closing conditions.

What over-allotment option did GPAC grant the underwriters?

The company granted a 45-day option to purchase up to 3,000,000 additional units to cover over-allotments.

Who are the underwriters and where can investors obtain the prospectus?

Jefferies is sole book-runner with Ladenburg Thalmann and Northland as co-managers; prospectus available from Jefferies or the SEC website.