GP-Act III Acquisition Corp. completes $287.5M IPO and $7M private placement

GP-Act III Acquisition Corp.

Sold 28,750,000 units at $10.00 each, including full over-allotment, raising $287.5M.
Simultaneously issued 7,000,000 private placement warrants at $1.00 each to sponsor and Cantor Fitzgerald, raising $7M.
Proceeds of $287.5M placed in trust account; cash on hand $796,043; total assets $288.7M.
Balance sheet shows $13.7M deferred underwriting fee and shareholders' deficit of $13.5M.
Company has 24 months from IPO date to complete an initial business combination.

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