The company said it must complete a business combination by Nov. 13, 2026 or face mandatory liquidation, raising substantial doubt about going concern.
Q2 net income declines sharply
GP-Act III posted Q2 net income of $290,121, down 90.28% from $2.98 million a year earlier.
Interest income from Trust Account marketable securities fell 43.78% to $1.76 million; formation and operating costs jumped to $1.47 million from $141,334.
Six-month results and liquidity
Six-month net income slid 58.53% to $2.44 million, as formation and operating costs rose to $2.03 million from $341,386.
Trust Account marketable securities totaled $98.24 million at June 30, 2026; cash outside the Trust Account was $10,586.
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