Graf Acquisition IV Stock Price, News & Analysis

Graf Acquisition Corp. IV (Symbol: GFOR) is a blank check company incorporated in Delaware. The company’s primary purpose is to execute mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses. Graf focuses on industrial companies, particularly those involved in diversified industrial manufacturing, technology, distribution, and service sectors within the United States and Canada.

Graf has recently been active in pursuing a significant business combination with NKGen Biotech, Inc., a clinical-stage biotechnology company specializing in innovative natural killer cell therapies. NKGen develops and commercializes both autologous and allogeneic CAR-NK cell therapies, positioning itself at the forefront of cutting-edge biotechnological advancements. Headquartered in Santa Ana, California, NKGen’s mission aligns with Graf's strategic focus, thus making this merger a vital step for both companies.

On September 11, 2023, Graf announced the adjournment of its Special Meeting intended for approving the business combination with NKGen. Despite having received sufficient proxy votes to approve the proposals, the meeting was postponed to September 13, 2023, to allow more time to secure additional financing. The meeting was again rescheduled for September 20, 2023, and then to September 25, 2023, to meet the necessary financial conditions, which include obtaining at least $50 million in additional funding. In a recent development, NKGen waived this $50 million minimum cash condition, indicating strong confidence in the successful closure of the merger.

Graf's financial condition remains robust, thanks to its strategic partnerships and experienced management team. The company’s executive officers and directors actively participate in the solicitation of proxies to ensure that all stockholders are well-informed and their votes are accurately represented. The company continues to engage with stockholders through various communication channels, including proxy solicitation services provided by Morrow Sodali LLC.

Graf has filed a comprehensive registration statement on Form S-4 with the SEC, detailing the proposed business combination. Stockholders are encouraged to review the definitive proxy statement/prospectus available on the SEC's website for detailed information about the merger and its implications.

Overall, Graf Acquisition Corp. IV remains committed to achieving its goal of combining with industrial and technology-driven businesses, leveraging its financial strength to create lasting value for its stockholders.