GP-Act III Acquisition registered to offer 25 million units at $10 each. A unit consists of a share and half a warrant, with whole warrants exercisable at $11.50.
CEO and Director Antonio Bonchristiano is the CEO of GP Investments. Co-Chairman Fersen Lamas Lambranho serves as Chairman of GP Investments, and Co-Chairman Steven Spinner is a partner at co-sponsor Boxcar Partners, an operating partner at Mid Ocean Partners, and lead outside director of ArcBest.
“We will seek to leverage GP Investments’ platform, including access to its teams, deal prospects, and network, along with any necessary resources to aid the identification, diligence and operational support of a target for our initial business combination,” the SPAC said in the registration filing. “We believe that we will benefit from GP Investments’ deep experience as a leading private equity and alternative investment firm with an extensive network of relationships that we believe may provide us with a distinct advantage for sourcing opportunities and unlocking long-term shareholder value.”
GP-Act III Acquisition initially filed for an offering of $250 million in March 2021. The SPAC revised its prospectus several times before withdrawing an IPO in November 2022.
The New York, NY-based company SPAC plans to list on the Nasdaq under the symbol GPATU.
Cantor is sole bookrunning manager on the deal. Read more.
