Graf Acquisition Corp. IV (GFOR) Adjourns Completion Vote
by Nicholas Alan Clayton on 2023-08-30 at 7:34am

Graf Acquisition Corp. IV (NYSE:GFOR) announced this morning that it plans to adjourn today’s vote to complete its combination with NKGen without conducting any business.

The special meeting will be pushed to 10:30 am ET September 8. Graf IV noted in its press release that it has received sufficient votes to approve all measures on its ballot, but it has decided to take additional time to arrange new financing.

The combination carries a $50 million minimum cash condition and the SPAC went into the vote with about $62 million in trust after 64.5% of shares were redeemed earlier. NKGen’s majority shareholder NKMax (KOSDAQ:182400) agreed to a backstop of up to $25 million at announcement, but the parties have not yet announced other committed equity financing.

The two sides initially announced their $160 million combination in April. Santa Ana, California-based NKGen has five pharmaceutical formulas that have each reached some stage of Phase I and Phase II clinical trials seeking potential therapies for cancer and neurodegenerative conditions like Parkinson’s and Alzheimer’s.

Last week, NKGen announced that it had dosed the first patient with SNK-02 as a part of Phase I studies into the drug candidate’s efficacy in treating solid tumors.

 

Recent Posts
by Kristi Marvin on 2025-05-03 at 10:02am

Terms Tracker for the Week Ending May 2, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. April wrapped with some real momentum. Over the course of the month, 19 SPACs filed new S-1s, while 12 IPOs priced. Furthermore, nine deal announcements...

by Nicholas Alan Clayton on 2025-05-02 at 3:21pm

ProCap Acquisition Corp. (NASDAQ:PCAPU) has filed for a $200 million SPAC to hunt for a fintech or financial services target. The new S-1 filing was BTIG’s second of the week after a two-month break, bringing its 2025 new SPAC filings to five and the bank has so far managed to IPO five SPACs as well....

by Nicholas Alan Clayton on 2025-05-02 at 12:09pm

MSM Frontier Capital Acquisition Corp. (NASDAQ:MSMUU) has filed for a $225 million SPAC to search for a infrastructure target in Africa. The new SPAC will head out on this expedition with a trust that is not overfunded and units that each contain one right to a 1/8 share. It will also have 24 months to...

by Nicholas Alan Clayton on 2025-05-02 at 8:25am

At the SPAC of Dawn This action-packed week in SPACs comes to an end with three more SPACs launching their IPOs, bringing it to nine on the week. And, the crypto strategy that SPACInsider noticed becoming increasingly popular among de-SPACs earlier this year has continued to gain steam. This week, edtech firm Classover (NASDAQ:KIDZ), fresh...

by Nicholas Alan Clayton on 2025-05-02 at 7:00am

Cartesian Growth Corporation III (NASDAQ:CGCT) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CGCT”, Friday, May 2, 2025. The new SPAC intends to combine with a closely held private company ready to make the jump to being a market-leading transnational...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved