GPACU

General Purpose Acquisition Corp. (GPACU) operates as a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is headquartered in New York. As a blank check company, GPACU raised capital through its initial public offering to provide investors with an opportunity to participate in a yet-to-be-identified target company acquisition. The SPAC structure allows institutional and retail investors to invest alongside the sponsors in identifying and executing a business combination, typically within a 24-month timeframe from the IPO date. GPACU's units consist of one share of Class A common stock and a fraction of one redeemable warrant, with each whole warrant exercisable for one share of common stock at a specified price. The company's management team evaluates potential target businesses across various industries, focusing on opportunities that demonstrate strong growth potential and operational capabilities. Until a business combination is completed, GPACU holds the proceeds from its offering in a trust account, with funds invested in U.S. government securities or money market funds. Shareholders retain the right to redeem their shares for a pro-rata portion of the trust account if they disapprove of the proposed business combination.