GP-Act III Acquisition Corp. has reported its financial results for the third quarter ending September 30, 2025, revealing a net income of $3.1 million, a decrease from $3.7 million in the same period last year. The company attributed this decline primarily to a reduction in interest income from marketable securities held in its Trust Account, which fell to $3.2 million from $3.8 million year-over-year. For the nine months ended September 30, 2025, net income was reported at $9.0 million, compared to $5.4 million for the same period in 2024, reflecting a significant increase in interest income from $5.7 million to $9.5 million.
The company’s total assets as of September 30, 2025, amounted to $306.5 million, up from $297.5 million at the end of 2024. This increase was primarily driven by the growth in marketable securities in the Trust Account, which rose to $306.2 million from $296.7 million. However, the company’s cash reserves decreased significantly to $145,453 from $483,572, indicating a tighter liquidity position. The total liabilities remained relatively stable, increasing slightly from $14.7 million to $14.7 million, while shareholders' deficit widened to $14.4 million from $13.9 million.
In terms of operational developments, GP-Act III Acquisition Corp. has not yet completed any business combinations since its inception. The company remains focused on identifying potential targets for acquisition, utilizing the proceeds from its Initial Public Offering (IPO) and private placement warrants. The IPO, which took place on May 13, 2024, raised $287.5 million, with the company placing these funds into a Trust Account for future business combinations. The company has until May 13, 2026, to complete its initial business combination, or it will face mandatory liquidation.
The company continues to incur significant costs associated with being a public entity, including legal and compliance expenses. As of September 30, 2025, GP-Act III Acquisition Corp. had a working capital deficit of $362,297, raising concerns about its ability to meet operational needs without additional financing. Management has indicated that it may need to secure further capital through loans or investments from sponsors or other parties to support its business strategy.
Looking ahead, GP-Act III Acquisition Corp. remains optimistic about completing a business combination before the end of the 24-month period. However, management has acknowledged the uncertainty surrounding this goal, particularly in light of current market conditions and geopolitical factors that could impact the acquisition landscape. The company has not made any adjustments to its financial statements in anticipation of liquidation, but it recognizes the substantial doubt regarding its ability to continue as a going concern if a business combination is not achieved within the specified timeframe.
About GP-Act III Acquisition Corp.
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