GSR V Acquisition Corp. completed its SPAC initial public offering, selling 23,000,000 units at $10.00 each for gross proceeds of $230,000,000, with these proceeds placed in a U.S. trust account. Each unit includes one Class A ordinary share and one-seventh of one right, and the company also sold 671,000 private placement units for $6,710,000 to its sponsor and a related underwriter.
The audited balance sheet as of May 15, 2026 shows total assets of $232,245,000, mainly the $230,000,000 held in the trust account, against liabilities and redeemable Class A shares totaling the same amount. The auditor and management both highlight substantial doubt about the company’s ability to continue as a going concern, noting limited cash outside the trust, expected ongoing costs to seek a business combination, and a mandatory liquidation deadline if no transaction is completed within the defined completion window.
GSR V Acquisition Corp. reports that Context Capital Management, LLC and affiliated reporting persons disclose beneficial ownership of 1,950,000 Class A ordinary shares. The shares represent 8.2% of the class based on 23,671,000 Class A ordinary shares outstanding as of 05/15/2026. The 1,950,000 shares consist of ordinary shares underlying SPAC units held by the reporting persons. Reporting persons include Context Capital Management, LLC; Michael S. Rosen; William D. Fertig; Charles E. Carnegie; and Context Partners Master Fund, L.P.
GSR V Acquisition Corp. director Kuan Man Wa filed an initial ownership report showing a position in the company’s sponsor equity. The filing reports direct ownership of 20,000 Class B ordinary shares. These Class B shares are convertible into 20,000 Class A ordinary shares on a one-for-one basis.
According to the disclosure, the Class B shares will automatically convert into Class A shares at the time of a qualifying initial business combination, or earlier at the holder’s option, subject to certain adjustments. The footnote states that these conversion rights have no expiration date, meaning the director’s economic interest is tied to the future business combination outcome.
GSR V Acquisition Corp. completed its SPAC IPO, selling 23,000,000 units at $10.00 each, for gross proceeds of $230,000,000. Each unit includes one Class A ordinary share and one-seventh of a right, with whole rights convertible into one share after a business combination.
The company also sold 671,000 private placement units for about $6,710,000. A total of $230,000,000, combining IPO and private placement net proceeds, was placed in a U.S. trust account, to be used only upon completing an initial business combination or redeeming public shares within 18 months, extendable to 21 months at the sponsor’s discretion.
New independent directors Jonathan Cole, Jody Sitkoski and Susie Kuan joined the board and its audit and compensation committees, supported by indemnity agreements. The company adopted amended and restated Cayman charter documents, and detailed underwriting, trust, registration rights and administrative agreements became effective alongside the IPO.
GSR V Acquisition Corp. reported that GSR V Sponsor LLC bought 550,000 private placement units in a transaction with the company. Each unit includes one Class A ordinary share and one-seventh of one right to receive a Class A ordinary share if an initial business combination is completed. If no business combination occurs, these private placement units and their underlying securities will expire worthless. The sponsor now directly holds 550,000 units, and the sponsor’s managing members, including senior executives Gus Garcia, Lewis Silberman and Anantha Ramamurti, may be deemed beneficial owners but disclaim beneficial ownership except for any pecuniary interest.