Corporate ActionMay 4, 2026, 04:33 PM
General Catalyst Global Resilience Merger Corp. Closes $402.5M IPO
AI Summary
General Catalyst Global Resilience Merger Corp. announced the closing of its initial public offering on May 1, 2026, raising gross proceeds of $402.5 million. The offering included 40,250,000 GRAIL securities, with the underwriters fully exercising their over-allotment option for an additional 5,250,000 securities. Concurrently, the sponsor purchased 905,000 private placement GRAIL securities. The company, a SPAC, aims to partner with businesses in global resilience sectors such as aerospace and defense, national security, industrials, and manufacturing.
Key Highlights
- Closed initial public offering on May 1, 2026, raising gross proceeds of $402.5 million.
- Sold 40,250,000 GRAIL securities at an offering price of $10.00 per security.
- Underwriters fully exercised their over-allotment option for 5,250,000 additional GRAIL securities.
- Sponsor purchased 905,000 private placement GRAIL securities for $9.05 million.
- GRAIL securities began trading on Nasdaq under "GCGRU" on April 30, 2026.
- Each GRAIL security consists of one Class A ordinary share and one-fourth of one redeemable warrant.
- Warrants are exercisable for one Class A ordinary share at a price of $11.50.
- Company formed to pursue business combinations in Global Resilience sectors.