Gesop Acquisition is a SPAC, or blank check company, with no operations, employees, revenue, or products. Its sole purpose is to identify and acquire a private business, taking it public through a merger. Gesop raised $145M in its October 2025 IPO by selling units at $10.00 each, with proceeds held in trust invested in short-term U.S. Treasuries. The management team is based in Seoul, South Korea, led by CEO Sung Hyuk Lee and CFO Hoon Ji Choi, both with private equity and corporate finance backgrounds. Gesop must complete a business combination within 18-24 months of its IPO or return cash to shareholders. The target must have a fair market value of at least 80% of the trust balance, but Gesop has set no restrictions on industry or geography, giving management broad discretion. Public shareholders can redeem shares at roughly $10.00 per share if they dislike a proposed deal or if no deal closes. Sponsors receive discounted founder shares, aligning their interests with completing a transaction and post-merger performance. Until a target is identified, the only financial activity is modest operating expenses funded by sponsor loans and interest income from the trust.