GSR V Acquisition prices $200 million IPO at $10 per unit

GSR V Acquisition Corp. (NASDAQ: GSRV) priced its initial public offering of 20 million units at $10.00 per unit, generating gross proceeds of $200 million, the company announced May 13.

The units will begin trading on the Nasdaq Global Market on May 14 under the ticker symbol "GSRVU." Each unit contains one Class A ordinary share and one-seventh of one right, with each whole right allowing the holder to receive one Class A ordinary share upon completion of an initial business combination.

The offering is expected to close May 15, subject to customary closing conditions. The company granted underwriters a 45-day option to purchase up to an additional 3 million units at the IPO price to cover over-allotments.

Once the securities begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols "GSRV" and "GSRVR," respectively. No fractional rights will be issued upon separation of the units.

Polaris Advisory Partners LLC, a division of Kingswood Capital Partners LLC, and The Benchmark Company LLC served as joint bookrunners for the offering. Polaris is wholly owned and controlled by GSRV's management, so Benchmark acted as a Qualified Independent Underwriter.

GSR V Acquisition is a blank check company incorporated in the Cayman Islands to pursue a merger, acquisition, or similar business combination. The company's management team includes co-CEOs Gus Garcia and Lewis Silberman, President and CFO Anantha Ramamurti, and Chief Business Development Officer Yuya Orime.

A registration statement related to the securities became effective May 13 with the Securities and Exchange Commission.

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