Business Combination

GSR IV Acquisition Corp. (GSRF) has closed its $230 million IPO, including the full exercise of the over-allotment option. The offering consisted of 23 million units at $10.00 each. Each unit includes one Class A ordinary share and one-seventh of a right, convertible into shares upon a business combination. Units trade on Nasdaq under “GSRFU,” with shares and rights to follow under “GSRF” and “GSRFR.” Polaris Advisory Partners and The Benchmark Company were joint bookrunners; the latter acting as qualified independent underwriter. GSRF is a blank check company seeking a merger target.

Relief Therapeutics will merge with NeuroX, the successor to MindMaze, in a deal valuing Relief at CHF 100M and NeuroX at CHF 1B. Relief shareholders will own approximately 9% of the combined entity, focused on AI-based digital neurotherapeutics. NeuroX, which acquired MindMaze’s assets, brings a clinically validated platform with over $350M invested. The transaction is expected to close in Q4 2025, pending approvals and customary conditions. The merger aims to create a publicly listed, AI-driven health tech enterprise.