GP-Act III Converts Founder Shares to Single Class

The latest update is out from GP-Act III Acquisition Corporation Class A ( (GPAT) ).

On May 1, 2026, GP-Act III Sponsor LLC and the three independent directors of GP-Act III Acquisition Corp., who held all of the company’s Class B founder shares, converted all 7,187,500 of those Class B shares into an equal number of Class A ordinary shares on a one-for-one basis, in line with the company’s governing documents. Following this transaction, the company now has approximately 35,937,500 Class A ordinary shares outstanding and no Class B shares, while all prior founder-share terms, including voting agreements, transfer restrictions and waivers to funds in the IPO trust account, remain fully in force, meaning the conversion does not alter voting dynamics or approval thresholds for shareholder decisions.

The conversion by GP-Act III Sponsor and directors standardized the company’s equity structure into a single share class without changing the overall distribution of voting power among shareholders. Investors and other stakeholders thus see a simplified capital structure for the SPAC, but no change in control, vote-counting mechanics or claims on trust assets as the vehicle continues its search for a business combination target.

More about GP-Act III Acquisition Corporation Class A

GP-Act III Acquisition Corp. is a Cayman Islands-incorporated special purpose acquisition company focused on effecting a merger, share exchange, asset acquisition, share purchase or similar business combination. It was formed to raise capital through an initial public offering and holds proceeds in a trust account until a suitable target company is identified and a transaction is completed.

Average Trading Volume: 153,368

Technical Sentiment Signal: Buy

Current Market Cap: $387.8M

For detailed information about GPAT stock, go to TipRanks’ Stock Analysis page.