GP-Act III converted 7,187,500 Class B founder shares into 7,187,500 Class A ordinary shares on a one-for-one basis.
Key Highlights:
- Conversion cancelled 7,187,500 Class B shares and issued 7,187,500 Class A shares to Sponsor HoldCo and three independent directors.
- Post-conversion, GP-Act III has approximately 35,937,500 Class A shares outstanding and no Class B shares outstanding.
- Terms of the founder Letter Agreement (voting agreement, transfer restrictions, trust account waiver) continue to apply to converted Class A shares.
- The conversion does not change shareholder voting power or the votes required to approve proposals.
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.