Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our units, Class A ordinary shares and redeemable
warrants are each traded on the Nasdaq Capital Market under the symbols “GPACU,” “GPAC” and “GPACW, respectively.
Our units commenced public trading on January 12, 2021, and our Class A ordinary shares and warrants commenced public trading on March
4, 2021.
Holders
On March 19, 2024, there was one holder of record
of our units, one holder of record of our Class A ordinary shares, one holder of record of our Class B ordinary shares, one holder of
record of our public warrants and one holder of record of our private placement warrants.
Dividends
We have not paid any cash dividends on our ordinary
shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash
dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition
subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination
will be within the discretion of our board of directors at such time. In addition, our board of directors is not currently contemplating
and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness in connection with
our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection
therewith.
Securities Authorized for Issuance Under Equity Compensation Plans.
None.
Recent Sales of Unregistered Securities
None.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
On January 11, 2023, we held the 2023 Extension
Meeting to, in part, to approve the 2023 Extension Amendment Proposal. In connection with that vote, the holders of 26,068,281 Class A
ordinary shares of the Company properly exercised their right to redeem their shares for an aggregate price of approximately $10.167 per
share, for an aggregate redemption amount of approximately $265,050,166. After the satisfaction of such redemptions, the balance in our
trust account was approximately $40,425,891.
On January 9,
2024, The Company held the 2024 Extension Meeting to, in part, approve the 2024 Extension Amendment Proposal. In connection with that
vote, the holders of 2,137,134 Class A ordinary shares of GPAC exercised their right to redeem their shares for cash at a redemption
price of approximately $11.12 per share for an aggregate redemption amount of approximately $23,767,574, resulting in 1,794,585 Class A
ordinary shares remaining outstanding. After the satisfaction of such redemptions, the balance in our trust account was approximately
$19,958,005.
Item
6. Reserved
62
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.