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 2024-06-22 at 11:30am

Terms Tracker for the Week Ending June 21, 2024 Programming Note: An abbreviated version of the Terms Tracker will be posted next week.  In light of the end of the quarter, we will be busy putting together our Half-Year report which should be posted the first week of July.  Welcome to our weekly column where...

by Nicholas Alan Clayton on 2024-06-21 at 11:46am

Future Vision II (NASDAQ:FVNNU) has filed for a $50 million IPO to hunt for a TMT target in Asia including intelligent chips, 5G and other emerging technologies there. Given the heightened competition and trade protectionism around these technologies lately, it is interesting that Future Vision II hasn’t ruled out combining with a Chinese target. In...

by Nicholas Alan Clayton on 2024-06-21 at 8:12am

At the SPAC of Dawn Every public company wants retail investor engagement, but once brought along, those investors require a bit of educating as well. Nuclear fission firm Oklo (NYSE:OKLO) is discovering that this week as it made a point to put out a press release explaining that its most recent S-1 filing was a...

by Nicholas Alan Clayton on 2024-06-20 at 3:41pm

Voyager (NASDAQ:VASHU) has filed for a SPAC IPO featuring many of the now increasingly familiar terms pushed by underwriter Cantor Fitzgerald over the past month, but does include a novel dollar figure for its raise at $261 million, before any over-allotments. Outside of this, Voyager’s trust is funded to 100.00% with $10.00 per unit to...

by Kristi Marvin on 2024-06-20 at 12:29pm

Eleven new SPACs have filed since the beginning of June, and the number is 12 if we count the May 31st filing of Graf Global Corp.  Seven of those 12 are being underwritten by Cantor, which has always been a very active SPAC underwriter. But you know who else used to be very active? Credit...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved