GSR III Acquisition (GSRTU) 10-Q 23 Dec 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Dec. 23, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Information [Line Items]
Entity Registrant Name	GSR III Acquisition Corp.
Entity Central Index Key	0002029023
Entity File Number	001-42399
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	E9
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	5900 Balcones Drive
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78731
Entity Phone Fax Numbers [Line Items]
City Area Code	914
Local Phone Number	369-4400
Units, each consisting of one Class A ordinary share and one seventh of one right
Entity Listings [Line Items]
Title of 12(b) Security	Units, each consisting of one Class A ordinary share and one seventh of one right
Trading Symbol	GSRTU
Security Exchange Name	NASDAQ
Class A ordinary share, par value $0.0001 per share
Entity Listings [Line Items]
Title of 12(b) Security	Class A ordinary share, par value $0.0001 per share
Trading Symbol	GSRT
Security Exchange Name	NASDAQ
Rights, each whole right entitling the holder to receive one Class A ordinary share
Entity Listings [Line Items]
Title of 12(b) Security	Rights, each whole right entitling the holder to receive one Class A ordinary share
Trading Symbol	GSRTR
Security Exchange Name	NASDAQ
Class A Ordinary Shares
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		23,422,500
Class B Ordinary Shares
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		5,750,000

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current Assets:
Prepaid expenses		$ 8,502
Total Current Assets		8,502
Non-Current Assets
Deferred offering costs	749,792
Total Assets	749,792	8,502
Current Liabilities
Accrued expenses	704,541
Total Current Liabilities	744,297
Shareholders’ Equity (Deficit)
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding as of September 30, 2024 and December 31 ,2023
Additional paid in capital	137,653	24,425
Accumulated deficit	(132,733)	(16,498)
Total Shareholders’ Equity	5,495	8,502
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	749,792	8,502
Related Party
Current Liabilities
Promissory note – related party	39,756
Class A Ordinary Shares
Shareholders’ Equity (Deficit)
Ordinary Shares, Value
Class B Ordinary Shares
Shareholders’ Equity (Deficit)
Ordinary Shares, Value	$ 575	$ 575

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Preferred shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued
Preferred shares, shares outstanding
Class A Ordinary Shares
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	200,000,000	200,000,000
Ordinary shares, shares issued
Ordinary shares, shares outstanding
Class B Ordinary Shares
Ordinary shares, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	20,000,000	20,000,000
Ordinary shares, shares issued	5,750,000	5,750,000
Ordinary shares, shares outstanding	5,750,000	5,750,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2024
Income Statement [Abstract]
General and administrative expenses	$ 85,810		$ 13,392	$ 116,235
Net Loss	$ (85,810)		$ (13,392)	$ (116,235)
Weighted average Class B ordinary shares outstanding, basic (in Shares)	5,750,000	5,750,000	5,750,000	5,750,000
Weighted average Class B ordinary shares outstanding, diluted (in Shares)	5,750,000	5,750,000	5,750,000	5,750,000
Basic net loss per Class B ordinary share (in Dollars per share)	$ (0.01)	$ 0	$ 0	$ (0.02)
Diluted net loss per Class B ordinary share (in Dollars per share)	$ (0.01)	$ 0	$ 0	$ (0.02)

Statements of Changes in Shareh

Statements of Changes in Shareholders’ Equity (Deficit) (Unaudited) - USD ($)	Ordinary Shares Class A	Ordinary Shares Class B	Additional Paid in Capital	Accumulated Deficit	Total
Balance at May. 09, 2023
Balance (in Shares) at May. 09, 2023
Founder shares issued to initial shareholder		$ 575	24,425		25,000
Founder shares issued to initial shareholder (in Shares)		5,750,000
Net loss				(13,392)	(13,392)
Balance at Jun. 30, 2023		$ 575	24,425	(13,392)	11,608
Balance (in Shares) at Jun. 30, 2023		5,750,000
Balance at May. 09, 2023
Balance (in Shares) at May. 09, 2023
Net loss					(13,392)
Balance at Sep. 30, 2023		$ 575	24,425	(13,392)	11,608
Balance (in Shares) at Sep. 30, 2023		5,750,000
Balance at Jun. 30, 2023		$ 575	24,425	(13,392)	11,608
Balance (in Shares) at Jun. 30, 2023		5,750,000
Net loss
Balance at Sep. 30, 2023		$ 575	24,425	(13,392)	11,608
Balance (in Shares) at Sep. 30, 2023		5,750,000
Balance at Dec. 31, 2023		$ 575	24,425	(16,498)	8,502
Balance (in Shares) at Dec. 31, 2023		5,750,000
Net loss
Balance at Mar. 31, 2024		$ 575	24,425	(16,498)	8,502
Balance (in Shares) at Mar. 31, 2024		5,750,000
Balance at Dec. 31, 2023		$ 575	24,425	(16,498)	8,502
Balance (in Shares) at Dec. 31, 2023		5,750,000
Net loss					(116,235)
Balance at Sep. 30, 2024		$ 575	137,653	(132,733)	5,495
Balance (in Shares) at Sep. 30, 2024		5,750,000
Balance at Mar. 31, 2024		$ 575	24,425	(16,498)	8,502
Balance (in Shares) at Mar. 31, 2024		5,750,000
Net loss				(30,425)	(30,425)
Balance at Jun. 30, 2024		$ 575	24,425	(46,923)	(21,923)
Balance (in Shares) at Jun. 30, 2024		5,750,000
Net loss				(85,810)	(85,810)
Risk capital funding to repay promissory note – related party and accrued expenses			113,228		113,228
Balance at Sep. 30, 2024		$ 575	$ 137,653	$ (132,733)	$ 5,495
Balance (in Shares) at Sep. 30, 2024		5,750,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	5 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024
Cash Flows from Operating Activities:
Net loss	$ (13,392)	$ (116,235)
Changes in operating assets and liabilities:
Prepaid expenses	13,392
Accrued expenses		116,235
Net cash used in operating activities
Net increase in cash
Cash - beginning of the period
Cash - ending of the period
Supplemental disclosure of noncash investing and financing activities:
Prepaid expenses paid by Sponsor in exchange for issuance of Founder Shares	25,000
Deferred offering costs included in accrued expenses		608,306
Repayment of promissory note – related party through risk capital funding		93,228
Repayment of accrued expenses through risk capital funding		20,000
Prepaid expenses included in deferred offering costs		8,502
Payment of deferred offering costs included in promissory note – related party		$ 132,984

Description of Organization and

Description of Organization and Business Operations	9 Months Ended
	Sep. 30, 2024
Description of Organization and Business Operations [Abstract]
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS GSR III Acquisition Corp. (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on May 10, 2023. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities that the Company has not yet identified (“Business Combination”). As of September 30, 2024, the Company had not yet commenced operations. All activity for the period from May 10, 2023 (inception) through September 30, 2024 relates to the Company’s formation and the initial public offering (the “Initial Public Offering”). The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company expects to generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end. Financing The registration statement for the Company’s Initial Public Offering was declared effective on November 7, 2024. On November 8, 2024, the Company consummated the Initial Public Offering of 23,000,000 units including 3,000,000 additional public units as the underwriters’ over-allotment option was exercised in full (the “Units” and, with respect to the shares of Class A ordinary shares included in the Units being offered, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $230,000,000. Simultaneously with the consummation of the Initial Public Offering and the sale of the Units, the Company consummated the private placement (“Private Placement”) of 422,500 units including 7,500 additional private placement units as the underwriters’ over-allotment option was exercised in full (the “Private Placement Units”) to GSR III Sponsor LLC (the “Sponsor”), at a price of $10.00 per Private Placement Unit, generating total proceeds of $4,225,000. Out of the aggregate amount of $4,225,000, the amount of $4,040,000 from the sale of the Private Placement Units are added to the net proceeds from the Initial Public Offering held in a trust account (the “Trust Account”) and the balance of $185,000 is receivable from the Sponsors, which will be presented as a reduction to stockholders’ deficit. The proceeds received from the sale of the Private Placement Units held in the Trust Account was used partially to pay some general and administrative expenses. Transaction costs amounted to $10,951,368, consisting of $975,000 of cash underwriting fees, $9,200,000 of deferred underwriting fees which will be paid on the consummation of initial Business Combination, and $776,368 of other offering costs. Business Combination If the Company is unable to complete an initial Business Combination within the 18 or 21-month period (the “Combination Period”), it may seek an amendment to amended and restated memorandum and articles of association to extend the period of time to complete an initial Business Combination beyond 21 months. The Company’s amended and restated memorandum and articles of association requires at least a special resolution of shareholders as a matter of Cayman Islands law, meaning that such an amendment be approved by at least two-thirds of ordinary shares who, being entitled to do so, attend and vote (either in person or by proxy) at a general meeting of the company. If the Company seeks shareholder approval to extend beyond the 21-month period in which to complete an initial Business Combination to a later date, The Company is required to offer public shareholders the right to have their public ordinary shares redeemed for a pro rata share of the aggregate amount then on deposit in the trust account, including interest (less permitted withdrawals and up to $100,000 of interest to pay dissolution expenses). There are no limitations to the number of times that the Company may seek shareholder approval or that shareholders may approve to extend beyond the 21-month period in which to complete a Business Combination at a later date. If the initial Business Combination is not completed in the period provided, the membership interests of the Sponsor become worthless. Going Concern Consideration As of September 30, 2024, the Company had a working capital deficit of $744,297. As of November 8, 2024 (after completion of the Initial Public Offering), the Company had $1,974,498 in its operating bank account and a working capital surplus of $1,910,213. The Company has incurred and expects to continue to incur significant costs to operate as a publicly traded company, to evaluate business opportunities, and to close on a Business Combination. Such costs will be incurred prior to generating any operating revenues. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. However, based on management’s current cash flow forecast, management expects the Company will have sufficient liquidity to fund the Company’s operations for a period beyond twelve months from the date the accompanying financial statements are issued. Consequently, management determined substantial doubt about the Company’s ability to continue as a going concern has been alleviated. Risks and Uncertainties Management continues to evaluate the impact of significant global events such as the Russia/Ukraine and Israel/Palestine conflicts, on the industry and has concluded that while it is reasonably possible that these could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. As such, the information included in these financial statements should be read in conjunction with the Company’s latest audited financial statements and initial audited financial statements filed with the SEC on Form 8-K and Form S-1. In the opinion of the Company’s management, these financial statements include all adjustments, which are only of a normal and recurring nature, necessary for a fair statement of the Company’s financial position as of September 30, 2024, and the Company’s results of operations and cash flows for the periods presented. The results of operations included in the financial statements are not necessarily indicative of the results to be expected for the full year ending December 31, 2024. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash or cash equivalents as of September 30, 2024 or December 31, 2023. Fair Value Measurements Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Deferred Offering Costs Deferred offering costs consist of legal, administrative, and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs will be allocated to Public and Private Rights issued in the Initial Public Offering on residual value basis, compared to total proceeds. Offering costs associated with the Class A ordinary shares will be charged against the carrying value of Class A ordinary shares subject to possible redemption upon the completion of the Initial Public Offering. As of September 30, 2024 and December 31, 2023, the Company had deferred offering costs of $749,792 and zero Net Loss Per Ordinary Share The Company complies with accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share.” Net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period. As of September 30, 2024 and December 31, 2023, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, the diluted loss per ordinary share is the same as the basic loss per ordinary share for the periods presented. Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2024 or December 31, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals, or material deviation from its position. There is currently no taxation imposed on income by the government of the Cayman Islands. In accordance with Cayman Islands federal income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Class A Redeemable Share Classification The public shares contain a redemption feature which allows for the redemption of such public shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies public shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company will recognize the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, upon completion of the Initial Public Offering, Class A ordinary shares subject to possible redemption will be presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. Recent Accounting Standards Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Initial Public Offering

Initial Public Offering	9 Months Ended
	Sep. 30, 2024
Class of Stock Disclosures [Abstract]
INITIAL PUBLIC OFFERING	NOTE 3. INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold 23,000,000 Units (including underwriters’ over-allotment exercise of 3,000,000 Units) at a purchase price of $10.00 per Unit, generating gross proceeds of $230,000,000 to the Company. Each Unit will consist of one Class A ordinary share and one-seventh of one public right (the “Public Right”). Each whole right entitles the holder thereof to purchase one Class A ordinary share at a price of $10.00 per share. No fractional rights will be issued upon separation of the Units and only whole rights will trade. The underwriters have exercised their over-allotment option on consummation of the Initial Public offering to purchase 3,000,000 additional units to cover over-allotments.

Private Placement

Private Placement	9 Months Ended
	Sep. 30, 2024
Class of Stock Disclosures [Abstract]
PRIVATE PLACEMENT	NOTE 4. PRIVATE PLACEMENT Simultaneously with the consummation of the Initial Public Offering and the sale of the Units, the Company consummated the private placement (“Private Placement”) of 422,500 units (including underwriters’ over-allotment exercise of 7,500 Units at a price of $10.00 per Private Placement Unit), generating total proceeds of $4,225,000. Each Private Placement Unit entitles the holder thereof to one Class A ordinary share and one-seventh of one private right (“Private Placement Rights”) to purchase one Class A ordinary share at $10.00 per share. The private placement units have terms and provisions that are identical to the units sold as part of the Initial Public Offering. The private placement units (including any private placement shares, any private placement rights and any Class A ordinary shares underlying the private placement rights) are not transferable, assignable or saleable until 30 days after the completion of initial business combination except pursuant to limited exceptions.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5. RELATED PARTY TRANSACTIONS Founder Shares On May 30, 2023, the Sponsor paid $25,000 to cover certain offering costs of the Company in consideration for 5,750,000 Class B ordinary shares of the Company (after giving effect to a share surrender effected on June 5, 2024). The initial shareholders have not forfeited Founder Shares as the over-allotment option was exercised in full by the underwriter. The Founder Shares represent 20.0% of the Company’s issued and outstanding shares after the Initial Public Offering. Administrative Services Agreement The Company has entered into an agreement, commencing on the effective date of the Initial Public Offering through the earlier of the Company’s consummation of a Business Combination and its liquidation, to pay the Sponsor a total of up to $55,556 per month for office space and administrative and support services. As of September 30, 2024 and December 31, 2023, $0 had been incurred and billed under the administrative services agreement. Promissory Note – Related Party During June 2024, the Sponsor agreed to loan the Company up to $300,000 pursuant to a promissory note (the “Note”). The Note was non-interest bearing, unsecured and due upon the earlier of June 6, 2025 and the closing of the Initial Public Offering. During the period ended September 30, 2024, the Company borrowed $132,984 under the Note to pay for offering costs, of which $93,228 was settled through risk capital funding. As of September 30, 2024, the Company had an outstanding balance of $39,756 under the Note, of which $5,000 was subsequently settled through risk capital funding and $34,756 was repaid from the proceeds of the Initial Public Offering placed in the Trust Account. Working Capital Loans In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor, members of the Company’s founding team or any of their affiliates may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company will repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lenders’ discretion, up to $1,500,000 of such Working Capital Loans may be convertible into private placement units at a price of $10.00 per unit. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. As of September 30, 2024, the Company had no outstanding Working Capital Loans.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6: COMMITMENTS AND CONTINGENCIES Registration Rights The holders of the (i) Founder Shares, which were issued in a private placement prior to the closing of the Initial Public Offering, (ii) Private Placement Units (including private placement unit and private placement rights), which were issued in a private placement simultaneously with the closing of the Initial Public Offering and the Class A ordinary shares underlying such Private Placement Units, and (iii) Private Placement Units and the Class A ordinary shares underlying such Private Placement Units that may be issued upon conversion of any Sponsor funded, have registration rights to require the Company to register a sale of any of securities held by holders of the securities pursuant to a registration rights agreement that was signed prior to the effective date of the Initial Public Offering. The holders of these securities are entitled to make up to three demands, excluding short form registration demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to completion of initial business combination and rights to require to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company is not be required to effect or permit any registration or cause any registration statement to become effective until termination of the applicable lock-up period.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2024
Shareholders
SHAREHOLDERS’ EQUITY	NOTE 7: SHAREHOLDERS’ EQUITY Preferred Shares no Class A Ordinary Shares no Class B Ordinary Shares Holders of the Class B ordinary shares have the right to appoint all the Company’s directors prior to an initial Business Combination. On any other matter submitted to a vote of the Company’s shareholders, holders of the Class A ordinary shares and holders of the Class B ordinary shares will vote together as a single class, except as required by law or share exchange rule; provided, that the holders of Class B ordinary shares are be entitled to vote as a separate class to increase the authorized number of Class B ordinary shares. Each share of ordinary share has one vote on all such matters. The Class B ordinary shares automatically convert into Class A ordinary shares at the time of the initial Business Combination at a ratio such that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares, will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of shares issued in the Initial Public Offering, including shares issued in connection with the underwriter exercise of their option to purchase additional Units, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities (as defined herein) or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of the initial Business Combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in the initial Business Combination and any private placement rights issued to the Sponsor, its affiliates or any member of the management team upon conversion of any Working Capital Loans funded by the Company’s Sponsor. Rights As of September 30, 2024 and December 31, 2023, there were no The gross proceeds of the Initial Public Offering were allocated to the rights based on relative value. Approximately $4,225,000 was recorded in shareholders’ equity related to the rights at November 8, 2024. The rights are not remeasured to fair value on a recurring basis. As of November 8, 2024, there were 3,285,714 public rights and 60,357 private rights included in the Private Placement Units outstanding. Each holder of one right will receive one Class A ordinary share upon consummation of the initial business combination, whether or not the Company will be the surviving entity, even if the holder of a public right converted all Class A ordinary shares held by them or it in connection with the initial business combination or an amendment to the Company’s memorandum and articles of association with respect to Company’s pre-business combination activities. In the event the Company will not be the survivor upon completion of the initial business combination, each holder of rights will be required to affirmatively convert their rights in order to receive the Class A ordinary shares underlying the rights (without paying any additional consideration) upon consummation of the business combination. The Company will not issue fractional Class A ordinary shares in connection with an exchange of rights. No fractional shares will be issued upon exchange of rights. No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation of a business combination. If the Company is unable to complete an initial Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of an initial Business Combination. Accordingly, the rights may expire worthless.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8: SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements other than those described below. Initial Public Offering The registration statement for the Company’s Initial Public Offering was declared effective on November 7, 2024. On November 8, 2024, the Company consummated the Initial Public Offering of 23,000,000 Units (including the exercise of the underwriters’ over-allotment option in full), at $10.00 per Unit, generating gross proceeds of $230,000,000. Simultaneously with the consummation of the Initial Public Offering, the Company consummated the private sale of 422,500 Private Placement Units (including the exercise of the underwriters’ over-allotment option in full), at a price of $10.00 per Private Placement Unit, generating total proceeds of $4,225,000. See Notes 1, 3 and 4 for additional information. Promissory Note – Related Party As of September 30, 2024, the Company had an outstanding balance of $39,756 under the Note, of which $5,000 was subsequently settled through risk capital funding and $34,756 was repaid from the proceeds of the Initial Public Offering placed in the Trust Account.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	2 Months Ended	3 Months Ended				5 Months Ended	9 Months Ended
	Jun. 30, 2023	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (13,392)	$ (85,810)	$ (30,425)			$ (13,392)	$ (116,235)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. As such, the information included in these financial statements should be read in conjunction with the Company’s latest audited financial statements and initial audited financial statements filed with the SEC on Form 8-K and Form S-1. In the opinion of the Company’s management, these financial statements include all adjustments, which are only of a normal and recurring nature, necessary for a fair statement of the Company’s financial position as of September 30, 2024, and the Company’s results of operations and cash flows for the periods presented. The results of operations included in the financial statements are not necessarily indicative of the results to be expected for the full year ending December 31, 2024.
Emerging Growth Company	Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash or cash equivalents as of September 30, 2024 or December 31, 2023.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs consist of legal, administrative, and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs will be allocated to Public and Private Rights issued in the Initial Public Offering on residual value basis, compared to total proceeds. Offering costs associated with the Class A ordinary shares will be charged against the carrying value of Class A ordinary shares subject to possible redemption upon the completion of the Initial Public Offering. As of September 30, 2024 and December 31, 2023, the Company had deferred offering costs of $749,792 and zero
Net Loss Per Ordinary Share	Net Loss Per Ordinary Share The Company complies with accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share.” Net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period. As of September 30, 2024 and December 31, 2023, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, the diluted loss per ordinary share is the same as the basic loss per ordinary share for the periods presented.
Income Taxes	Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2024 or December 31, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals, or material deviation from its position. There is currently no taxation imposed on income by the government of the Cayman Islands. In accordance with Cayman Islands federal income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.
Class A Redeemable Share Classification	Class A Redeemable Share Classification The public shares contain a redemption feature which allows for the redemption of such public shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies public shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company will recognize the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, upon completion of the Initial Public Offering, Class A ordinary shares subject to possible redemption will be presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets.
Recent Accounting Standards	Recent Accounting Standards Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Description of Organization a_2

Description of Organization and Business Operations (Details) - USD ($)		9 Months Ended
	Nov. 08, 2024	Sep. 30, 2024
Description of Organization and Business Operations [Line Items]
Transaction costs		$ 10,951,368
Cash underwriting fees		975,000
Deferred underwriting fee payable		9,200,000
Other offering costs		776,368
Interest to pay dissolution expenses		100,000
Working capital deficit		$ 744,297
Series of Individually Immaterial Business Acquisitions [Member]
Description of Organization and Business Operations [Line Items]
Business combination period		18 or 21-month
GSR III Sponsor LLC [Member]
Description of Organization and Business Operations [Line Items]
Sponsors amount		$ 185,000
Subsequent Event [Member]
Description of Organization and Business Operations [Line Items]
Gross proceeds	$ 230,000,000
Operating bank account amount	1,974,498
Working capital surplus	$ 1,910,213
Class A Ordinary Shares [Member]
Description of Organization and Business Operations [Line Items]
Private placement units per share (in Dollars per share)		$ 10
Class A Ordinary Shares [Member] | Subsequent Event [Member]
Description of Organization and Business Operations [Line Items]
Private placement units per share (in Dollars per share)	$ 10
Initial Public Offering [Member]
Description of Organization and Business Operations [Line Items]
Number of units issued (in Shares)		23,000,000
Gross proceeds		$ 230,000,000
Private placement unit per share (in Dollars per share)		$ 10
Initial Public Offering [Member] | Subsequent Event [Member]
Description of Organization and Business Operations [Line Items]
Number of units issued (in Shares)	23,000,000
Private placement units per share (in Dollars per share)	$ 10
Gross proceeds	$ 230,000,000
Over-Allotment Option [Member]
Description of Organization and Business Operations [Line Items]
Number of units issued (in Shares)		7,500
Additional private placement units (in Shares)		3,000,000
Over-Allotment Option [Member] | Subsequent Event [Member]
Description of Organization and Business Operations [Line Items]
Additional private placement units (in Shares)	3,000,000
Private Placement [Member]
Description of Organization and Business Operations [Line Items]
Number of units issued (in Shares)		422,500
Additional private placement units (in Shares)		7,500
Private placement units per share (in Dollars per share)		$ 10
Private placement unit per share (in Dollars per share)		$ 10
Total proceeds		$ 4,225,000
Private Placement [Member] | GSR III Sponsor LLC [Member]
Description of Organization and Business Operations [Line Items]
Private placement unit per share (in Dollars per share)		$ 10
Total proceeds		$ 4,225,000
Aggregate amount		4,225,000
Sale of the private placement units		$ 4,040,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Deferred offering costs	$ 749,792

Initial Public Offering (Detail

Initial Public Offering (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Class A Ordinary Shares [Member]
Subsidiary, Sale of Stock [Line Items]
Share price per share (in Dollars per share) | $ / shares	$ 10
Initial Public Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued	23,000,000
Purchase price per unit (in Dollars per share) | $ / shares	$ 10
Gross proceeds (in Dollars) | $	$ 230,000,000
Over-Allotments [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued	7,500
Underwriters’ over-allotment exercise of units	3,000,000
Purchase additional units	3,000,000

Private Placement (Details)

Private Placement (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Class A Ordinary Share [Member]
Subsidiary, Sale of Stock [Line Items]
Price per share | $ / shares	$ 10
Private Placement Rights [Member]
Subsidiary, Sale of Stock [Line Items]
Units issued | shares	422,500
Price per share | $ / shares	$ 10
Generating initial proceeds | $	$ 4,225,000
Over-Allotment [Member]
Subsidiary, Sale of Stock [Line Items]
Units issued | shares	7,500

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)		2 Months Ended	5 Months Ended	9 Months Ended
	May 30, 2023	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Offering costs		$ 25,000
Company borrowed				$ 132,984
Risk capital funding				93,228
Subsequently settled				5,000
Related Party [Member]
Related Party Transaction [Line Items]
Outstanding balance				39,756
Administrative Services Agreement [Member]
Related Party Transaction [Line Items]
Billed related party				0		$ 0
Sponsor [Member]
Related Party Transaction [Line Items]
Office space and administrative expenses				55,556
Company borrowed				132,984
Risk capital funding				34,756
Working capital loans				$ 1,500,000
Sponsor [Member] | Promissory Note [Member]
Related Party Transaction [Line Items]
Sponsor agreed to loan					$ 300,000
Sponsor [Member] | Class B Ordinary Shares [Member]
Related Party Transaction [Line Items]
Offering costs	$ 25,000
Ordinary shares (in Shares)	5,750,000
Initial Public Offering [Member]
Related Party Transaction [Line Items]
Founder shares percentage				20%
Risk capital funding				$ 230,000,000
Private placement units (in Dollars per share)				$ 10
Private Placement Units [Member]
Related Party Transaction [Line Items]
Private placement units (in Dollars per share)				$ 10

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)		9 Months Ended
	Nov. 08, 2024	Sep. 30, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred shares authorized		1,000,000	1,000,000
Preferred shares, par value (in Dollars per share)		$ 0.0001	$ 0.0001
Preferred shares issued
Preferred shares outstanding
Converted basis percentage		20%
Number of rights issued
Number of rights outstanding (in Dollars)
Class A Ordinary Shares [Member]
Class of Stock [Line Items]
Ordinary shares authorized		200,000,000	200,000,000
Ordinary shares par value (in Dollars per share)		$ 0.0001	$ 0.0001
Ordinary shares issued
Ordinary shares outstanding
Common Class B [Member]
Class of Stock [Line Items]
Ordinary shares authorized		20,000,000	20,000,000
Ordinary shares par value (in Dollars per share)		$ 0.0001	$ 0.0001
Ordinary shares issued		5,750,000	5,750,000
Ordinary shares outstanding		5,750,000	5,750,000
Private Placement [Member]
Class of Stock [Line Items]
Ordinary shares subject to possible redemption		422,500
Private Placement [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Private rights	60,357
Private Placement [Member] | Class A Ordinary Shares [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Ordinary shares subject to possible redemption	23,000,000
Private placement units	422,500
Initial Public Offering [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Shareholders’ equity related to rights (in Dollars)	$ 4,225,000
Public Rights [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Private rights	3,285,714

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)		9 Months Ended
	Nov. 08, 2024	Sep. 30, 2024	Dec. 31, 2023
Subsequent Events [Line Items]
Amount settled		$ 5,000
Related Party [Member]
Subsequent Events [Line Items]
Promissory note		39,756
Subsequent Event [Member]
Subsequent Events [Line Items]
Gross proceed	$ 230,000,000
IPO [Member]
Subsequent Events [Line Items]
Gross proceed		$ 230,000,000
Price per share (in Dollars per share)		$ 10
Repaid amount		$ 34,756
IPO [Member] | Subsequent Event [Member]
Subsequent Events [Line Items]
Number of units (in Shares)	23,000,000
Price per share (in Dollars per share)	$ 10
Gross proceed	$ 230,000,000
Private Placement [Member]
Subsequent Events [Line Items]
Price per share (in Dollars per share)		$ 10
Sale of units (in Shares)		422,500
Price per share (in Dollars per share)		$ 10
Generating total proceeds		$ 4,225,000