GSR V Acquisition Corp. 8-K

What Happened

• GSR V Acquisition Corp. announced the closing of its IPO on May 15, 2026. The company sold 23,000,000 units (20,000,000 initial units plus a 3,000,000 over‑allotment) at $10.00 per unit, generating $230,000,000 in gross proceeds from the public offering. Each unit consists of one Class A ordinary share and one‑seventh of a right (each whole right entitles the holder to one Class A ordinary share).
• Simultaneously, the company completed private sales of 671,000 Private Placement Units to the Sponsor and SPAC Advisory Partners LLC dba Polaris Advisory Partners LLC at $10.00 per unit, raising approximately $6,710,000 in gross proceeds.
• On May 15, 2026, $230,000,000 (comprised of $224,600,000 net IPO proceeds and $5,400,000 net private placement proceeds) was deposited into a U.S. trust account held by Odyssey Transfer and Trust Company. Those funds are restricted and generally won’t be released until the company completes an initial business combination or in limited redemption or expiration scenarios (standard SPAC trust rules, with an 18‑month window extendable to 21 months at the Sponsor’s discretion).

Key Details

• IPO: 23,000,000 units sold at $10.00 per unit (includes 3,000,000‑unit exercise of underwriter over‑allotment).
• Private placement: 671,000 units sold for ~$6,710,000 (subject to standard transfer restrictions).
• Trust funding: $230,000,000 held in segregated trust with Odyssey Transfer and Trust Company.
• Governance: Jonathan Cole, Jody Sitkoski and Susie Kuan were appointed to the Board (appointments effective May 13, 2026); each was added to the audit and compensation committees (Ms. Kuan is audit chair; Mr. Sitkoski is compensation chair). Sponsor transferred 20,000 Class B shares to each of these three directors on May 12, 2026.

Why It Matters

• For investors, this filing confirms the SPAC has completed its capital raise and now holds the pooled funds needed to pursue an initial business combination (the primary purpose of a SPAC). The trust account safeguards public investors’ capital until a qualifying deal or redemption event occurs.
• The board additions and indemnity agreements are governance steps to support deal sourcing and oversight as the SPAC looks for a target. The timelines in the filing (18 months, extendable to 21 months) set the window for completing a business combination, which is a key milestone for shareholder value realization.