A special purpose acquisition company (SPAC) named General Catalyst Global Resilience Merger (GCGRU.US), which is backed by General Catalyst and focuses on the aerospace and defense sectors, submitted documents to the U.S. Securities and Exchange Commission (SEC) on Monday. The company aims to raise up to $350 million through an initial public offering (IPO). It plans to issue 35 million units at $10 per unit to achieve this fundraising goal. Each unit consists of one share of common stock and one-quarter of a warrant with an exercise price of $11.50. Unlike most SPACs, this company will utilize a variable conversion ratio for its shares following the completion of a business combination.
General Catalyst Global Resilience Merger is led by Chief Executive Officer Paul Kwan, who also serves as a Managing Director at General Catalyst and was formerly the head of Morgan Stanley's (MS.US) West Coast technology investment banking business. The management team working alongside him includes Chief Financial Officer Christopher Kauffman, a General Catalyst partner and former Vice President of Finance at Ruggable, and Chairman Hemant Taneja, Managing Director and Chief Executive Officer of General Catalyst.
The SPAC intends to concentrate its investments in aerospace and defense, national security, and related industries. This focus includes companies involved in software-defined defense platforms, advanced manufacturing and industrial automation, and alternative energy solutions. Established in 2026 and headquartered in Cambridge, Massachusetts, the company plans to list on the Nasdaq under the ticker symbol GCGRU. It confidentially submitted its application for listing on March 9, 2026, with Citigroup acting as the sole book-running manager for the transaction.
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