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GSR III Acquisition Corp. (GSRT+0.35%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes details on the company's financial position, with total assets of $233,347,974 as of December 31, 2024, primarily held in a trust account.
The company reported a net income of $949,295 for the year ended December 31, 2024, primarily due to interest income from the trust account.
GSR III Acquisition Corp. completed its initial public offering on November 8, 2024, raising $230,000,000 by issuing 23,000,000 units at $10.00 per unit.
Simultaneously, the company conducted a private placement of 422,500 units, generating an additional $4,225,000.
The company has not yet commenced operations and is focused on identifying and completing a business combination within 18 to 21 months from the IPO date.
As of December 31, 2024, GSR III Acquisition Corp. had $1,787,033 in cash outside the trust account for working capital.
The company has entered into an administrative services agreement to pay up to $55,556 per month for office space and support services.
GSR III Acquisition Corp. is classified as a blank check company and has not generated any operating revenues to date.
The company acknowledges the risks associated with its business strategy, including the need to complete a business combination within the specified timeframe to avoid liquidation.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the GSR III Acquisition Corp. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.