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Graf Acquisition Corp. IV (NYSE: GFOR) and NKGen Biotech have signed a non-binding letter of intent for a potential business combination. NKGen, established in 2017 and based in Santa Ana, CA, specializes in natural killer cell therapies aimed at treating neurodegenerative diseases and cancer. The combination is subject to due diligence and board approvals, with no guarantee of completion. Both companies plan to release more details upon executing a definitive agreement. The merger presents opportunities for expanding NKGen's therapeutic offerings but remains contingent on various conditions.
Graf Acquisition Corp. IV (NYSE: GFOR) has withdrawn its Extension Proposal to delay the deadline for a business combination from May 25, 2023 to September 29, 2023. This decision comes ahead of the special stockholder meeting scheduled for December 21, 2022. Consequently, shareholders will not have the option to redeem shares for a pro rata portion of the trust account funds. Shares already submitted for redemption will be returned promptly. The withdrawal does not affect three other proposals on the ballot.
Graf Acquisition Corp. IV (NYSE: GFOR) has successfully closed the issuance of an additional 2,161,500 units from its IPO, marking 96.1% of the total over-allotment option. This sale at $10.00 per unit yields gross proceeds of $21,615,000, raising total proceeds from the IPO to $171,615,000. Led by a diversified management team, the Company aims to pursue business combinations across multiple sectors, including technology and healthcare, leveraging their extensive industry networks. J.P. Morgan and Oppenheimer & Co. managed the offering.
Graf Acquisition Corp. IV (NYSE: GFOR) has successfully completed its IPO, raising $150,000,000 by offering 15,000,000 units at $10.00 each. The units will trade as "GFOR.U" on the NYSE, each comprising a common stock share and one-fifth of a warrant. The company aims to explore diverse industries for potential business combinations, leveraging its management team's expertise. The proceeds have been placed in trust for future use, with a provision for underwriters to purchase an additional 2,250,000 units. Forward-looking statements indicate potential risks associated with the offering.
