GP-Act III Acquisition Corp. held an extraordinary general meeting on May 6, 2026 and shareholders approved adjourning the meeting to allow more time to solicit proxies on two key extension proposals. The adjournment proposal passed with 21,424,593 votes for, 8,064,137 against and 1,000 abstentions.
The adjourned meeting is scheduled for May 12, 2026, when shareholders will vote on extending the deadline to complete a business combination and to liquidate the SPAC’s trust account from May 13, 2026 to November 13, 2026. Holders who previously elected to redeem their Class A shares are permitted to reverse those redemption requests by contacting the transfer agent by 9:00 a.m. Eastern Time on May 12, 2026.
GP-Act III Acquisition Corp. adjourned its extraordinary general meeting held on April 29, 2026 after shareholders approved an adjournment proposal to allow more time to solicit proxies. The meeting will reconvene on May 6, 2026 to vote on extending its business combination deadline and related trust agreement from May 13, 2026 to November 13, 2026.
Of 35,937,500 ordinary shares outstanding on the March 24, 2026 record date, 81.67% were represented, and the adjournment proposal received 21,313,393 votes for, 8,034,735 against and 1,000 abstentions. Shareholders who previously elected to redeem their public Class A shares may reverse their redemption requests by contacting the transfer agent by 9:00 a.m. Eastern Time on May 6, 2026.
Picton Mahoney Asset Management amended a Schedule 13G to report beneficial ownership of 1,375,000 Class A ordinary shares of GP-ACT III ACQUISITION CORP, equal to 4.78% of the class. The filing cites 28,750,000 Class A ordinary shares as of March 26, 2026 from the issuer's Form 10-K and is certified on 04/27/2026.
GP-Act III Acquisition Corp. is asking shareholders to extend its deadline to complete a business combination from May 13, 2026 to November 13, 2026. The meeting will also vote on amending the trust agreement and a possible adjournment to gather more votes.
Holders of Class A public shares can redeem shares in connection with the extension for cash equal to their pro rata share of the trust account. Based on $311,838,315.48 in the trust as of March 30, 2026, the estimated redemption price is about $10.84 per share.
If the extension or trust amendment is not approved, or if negotiations on the potential business combination end before the meeting, the SPAC plans to redeem all public shares and liquidate, with its warrants expiring worthless and founder shares receiving no trust proceeds.
GP-Act III Acquisition Corp. files its annual report describing its SPAC structure and capital raised to date. The Cayman Islands blank-check company completed a May 2024 IPO of 28,750,000 units at $10.00 each, raising gross proceeds of $287,500,000, plus $7,000,000 from 7,000,000 private placement warrants.
IPO proceeds were placed in a U.S. trust account, initially equal to $10.00 per public share, to fund a future business combination. As of March 26, 2026, 28,750,000 Class A and 7,187,500 Class B ordinary shares were outstanding, and the company is classified as a shell with no operating revenues.
The SPAC has 24 months from the IPO closing to complete an initial business combination with a target valued at least 80% of net trust assets, or it must redeem all public shares and liquidate. The report highlights extensive risks around redemption dynamics, intense SPAC competition, regulatory changes, geopolitical instability and potential investment company status.
Bank of Montreal and several affiliated entities filed an amended Schedule 13G reporting that they beneficially own 0 common shares of GP-Act III Acquisition Corp., representing 0% of the class as of December 31, 2025.
The filing confirms they have no sole or shared voting or dispositive power over any GP-Act III shares and state that any securities referenced were acquired and are held in the ordinary course of business, not to change or influence control of the company.