| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| SG&A Expense | $57K | — | — |
| Net Income | -$57K | — | — |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Current Assets | $958 | -76.2% | — |
| Total Assets | $76K | +1569.2% | — |
| Current Liabilities | $129K | — | — |
| Stockholders' Equity | -$53K | -1410.8% | — |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Operating Cash Flow | -$15K | — | — |
| Financing Cash Flow | $15K | — | — |
Business Overview
GSR V Acquisition Corp. is a blank check company (SPAC) incorporated in the Cayman Islands on July 23, 2025, formed to effect a merger, share exchange, asset acquisition, or similar business combination with an unidentified operating business. As of March 31, 2026, the Company had not yet commenced operations and was in the formation and IPO preparation stage. The Company consummated its Initial Public Offering on May 15, 2026, raising $230 million in gross proceeds from the sale of 23 million units at $10.00 per unit, with an additional $6.71 million raised through a concurrent private placement.
Forward Guidance
Management states: "Management plans to complete a Business Combination before the mandatory liquidation date and anticipates that the Company will have sufficient liquidity to fund its operations until then. However, there can be no assurance that we will be able to consummate a Business Combination within the Completion Window or that liquidity will be sufficient to fund operations." The Company indicates it "will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest."
Key Risk Factors
The Company faces substantial doubt about its ability to continue as a going concern if it fails to complete a business combination within the 18-21 month completion window, after which mandatory liquidation would occur. The Company will not generate operating revenues until after completing a business combination and will incur significant ongoing costs as a publicly traded company without offsetting revenues. Additionally, the Company's ability to identify and complete a suitable business combination meeting regulatory requirements (minimum 80% of trust account assets) is uncertain, and geopolitical risks including Russia/Ukraine, Israel/Palestine, and U.S.-Middle East conflicts could negatively impact the search for target companies.