GSR V Acquisition Corp. (NASDAQ:GSRVU, GSRV, GSRVR) announced the completion of its initial public offering and a concurrent private placement.
On May 15, the company closed its IPO of 20 million units at $10.00 per unit. Underwriters fully exercised their over-allotment, purchasing an additional 3 million units, bringing total units sold to 23 million and gross proceeds to $230 million.
Simultaneously, GSR V completed a private sale of 671,000 units to GSR IV Sponsor LLC and SPAC Advisory Partners LLC, generating approximately $6.71 million. These units are restricted from transfer until 30 days after the initial business combination.
The company placed $230 million from the IPO and private placement into a segregated trust account in the United States.
