GSR IV Acquisition, a blank check company led by SPAC veterans targeting "high potential" businesses in the US, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one right to receive one-seventh of a share upon the completion of an initial business combination.
At pricing, the SPAC sweetened the terms for IPO buyers; the company had previously filed to offer units with one-fourteenth share rights.
GSR IV Acquisition is led by Co-CEO and Director Gus Garcia, the former Head of SPAC M&A for Bank of America, and Co-CEO and Director Lewis Silberman, the former Head of SPAC Equity Capital Markets for Oppenheimer & Co. They are joined by CFO, President, and Director Anantha Ramamurti, a former Managing Director and Head of Global Mobility Group at Bank of America Securities. The three executives are co-founders of Polaris Advisory Partners LLC (formerly SPAC Advisory Partners), a division of Kingswood Capital and the lead manager of the deal.
The SPAC plans to target "high potential" businesses based in the US, focusing on those with financial stability and visibility, leading industry and market position, and resilient barriers to entry, among other characteristics.
Management has been involved with various other SPACs, most recently GSR III Acquisition (GSRT), which has a pending merger agreement with small modular reactor developer Terra Innovatum, and GSR II Meteora Acquisition, which merged with crypto ATM operator Bitcoin Depot (BTM) in 2023.
GSR IV Acquisition plans to list its units on the Nasdaq under the symbol GSRFU. Polaris Advisory Partners and The Benchmark Company acted as joint bookrunners on the deal.
