SPACInsider Logo
Graf Acquisition Corp. IV (GFOR) Announces LOI with NKGen Biotech
by Nicholas Alan Clayton on 2023-03-24 at 7:05am

Graf Acquisition Corp. IV (NYSE:GFOR) announced that it has signed a non-binding letter of intent to combine with clinical-stage biopharma company NKGen.

This announcement is not a pure teaser as Graf IV is not facing an imminent extension vote and currently has until May 25 on its clock. It does, however, signal something of a shift for a team that has focused on other technology sectors in its past deals.

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.

Its only active trial is a Phase I study of its SNK01-US01 candidate that attempts to use autologous natural killer cells to reduce advanced solid tumors in adults, according to its website.

Graf IV CEO James Graf served as an officer in several of the Eagle team SPACs before going solo with Graf Industrial, which combined with Velodyne Lidar in September 2020. Graf II and III ultimately withdrew their registration statements, but mentioned “mobility, technology [and] transportation” as their first target sectors.

The SPAC aims to release additional details about the transaction once a definitive agreement is reached, and Graf IV will remain in SPACInsider‘s “Searching” column until then.

Recent Posts
by Kristi Marvin on 2023-05-27 at 12:58pm

Terms Tracker for the Week Ending May 26, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As we head into the holiday weekend, it’s looking like SPACs will end the month of May with an IPO count of three.  Technically, there’s...

by Marlena Haddad on 2023-05-26 at 5:41pm

Latest SPAC Liquidations: Social Capital Suvretta Holdings II & IV, Sculptor Acquisition Corp I, Logistics Innovation Technologies Corp., and Senior Connect I  Social Capital Suvretta Holdings Corp. II (DNAB) to Liquidate on June 30 On May 26,  Social Capital Suvretta Holdings Corp. II (NASDAQ:DNAB) announced that it would not complete its initial business combination by its...

by Marlena Haddad on 2023-05-26 at 5:39pm

Latest Non-Redemption Agreements:  Southport Acquisition Corp., and Social Leverage Acquisition Corp. I Southport Acquisition Corporation (PORT) Adds Non-Redemption Agreement On May 25, 2023, Southport Acquisition Corporation (NYSE:PORT) and its sponsor, Southport Acquisition Sponsor LLC, entered into voting and non-redemption agreements with unaffiliated third parties in exchange for such third parties agreeing  not to redeem an aggregate...

by Marlena Haddad on 2023-05-26 at 4:53pm

ST Energy Transition I Ltd. (NYSE: STET) announced this afternoon that it has cancelled its meeting to vote on an extension proposal. The SPAC initially announced the pricing of its $250 million IPO in December 2021 and had 18 months on its timeline to combine with a target. If the SPAC received shareholder approval of an...

by Marlena Haddad on 2023-05-26 at 11:32am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: VinFast recalls first batch of EVs in the US, Arrival seeks second chance with EV tax credits, and QualTek files for bankruptcy  Vietnam’s VinFast recalls first batch of US-bound EVs over safety risk Vietnamese...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved