Who is behind GSRV? GSR (Garcia/Silberman)
The people who set GSR V Acquisition up, what they have done before, and what happened to the shareholders who backed their earlier vehicles — every outcome cited to an SEC filing.
Liquidation / termination drag: 0 liquidations and 0 terminations across 5 vehicles raised → 0% attrition (terminations 1.25×, stale shells 0.75×).
Mixed record · medium confidence — the same inputs always produce the same score.
Track record
The fleet this sponsor runs today, and the SEC-verified fate of every prior vehicle we have traced.
- GSR II Meteora Acquisition Corp · 2022→ Bitcoin DepotBTMCQCompleted
- GSR III Acquisition Corp · 2024→ Terra Innovatum GlobalNKLRCompleted
GSR franchise led by Gus Garcia and Rudy Silberman (GSR = Garcia/Silberman). Prior-vehicle track record (SEC-verified): (1) GSR II Meteora Acquisition Corp. COMPLETED its deSPAC with Bitcoin Depot in 2023 (SEC former names on that CIK: "GLA II Meteora Acquisition Corp." -> "GSR II Meteora Acquisition Corp." -> "Bitcoin Depot Inc."); however the combined company was subsequently delisted from Nasdaq (Form 25-NSE filed 2026-07-13; distressed ticker BTMCQ) — a weak post-close outcome. (2) GSR III Acquisition Corp. COMPLETED its merger with nuclear micro-reactor developer Terra Innovatum, now Terra Innovatum Global N.V. (Nasdaq: NKLR), closing mid-2026 (GSR III filed Form 15-12G to deregister in Nov 2025; Terra filed 424B3/S-8 in Jul 2026). Net: 2 completed deSPACs (both reached listing; Bitcoin Depot later delisted). Current GSR vehicles are still searching. Sources: SEC EDGAR submissions API + full-text search (efts.sec.gov).
Full sponsor record →Why the sponsor matters
The thirty-second version, for anyone who has never traded a SPAC.
A SPAC is an empty listed company; the sponsor is the only substance it has before a deal. They pick the target, negotiate the terms, and typically hold founder shares — equity they received nearly free — which pay off for them even in deals that lose public holders money. A sponsor’s prior vehicles are the closest thing to evidence about how this one ends.
How the founder-share incentive works is covered in our plain-English guide to the sponsor promote.
In plain English
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.