GSR III Acquisition Corp. Reports $1.9 Million Net Income for Quarter Ending June 30, 2025

GSR III Acquisition Corp. reported its financial results for the quarter ending June 30, 2025, revealing a net income of $1.9 million, a significant increase from a net loss of $30,425 in the same period last year. The company generated $2.4 million in non-operating income from interest and dividends earned on investments held in its trust account, which was partially offset by $535,072 in general and administrative expenses. For the first half of 2025, GSR III recorded a net income of $3.1 million, compared to a loss of $30,425 in the first half of 2024.

The company’s total assets as of June 30, 2025, amounted to $237.2 million, up from $233.3 million at the end of 2024. This increase was primarily driven by cash and investments held in the trust account, which rose to $236.3 million from $231.4 million. However, GSR III's current liabilities increased significantly to $871,120 from $49,529, largely due to a rise in accounts payable and accrued expenses.

In terms of strategic developments, GSR III entered into a business combination agreement with Terra Innovatum s.r.l. on April 21, 2025. This agreement outlines a series of reorganizations and equity issuances that will result in GSR III becoming a wholly owned subsidiary of a newly formed Dutch public limited liability company. The company has not yet commenced operations and will not generate operating revenues until after the completion of its initial business combination.

Operationally, GSR III had 23,422,500 Class A ordinary shares and 5,750,000 Class B ordinary shares outstanding as of August 11, 2025. The company has incurred significant costs related to its public company operations and the search for a business combination, with cash used in operating activities totaling $924,906 for the first half of 2025. The company’s management has expressed concerns regarding its ability to continue as a going concern if it does not complete a business combination within the required timeframe.

Looking ahead, GSR III plans to utilize the proceeds from its initial public offering and private placement to identify and evaluate potential acquisition targets. The company has indicated that it may need to seek additional financing to complete its initial business combination or to cover operational costs if necessary. Management remains optimistic about completing a business combination before the mandatory liquidation date, although there are no assurances regarding the timing or success of such efforts.