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Graf Global Corp. (GRAF+0.05%) Class A has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing indicates that Graf Global Corp. is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
As of September 30, 2024, Graf Global Corp. had not commenced operations and had no operating revenues. The company reported net income of $2,799,891 for the quarter, primarily due to interest income earned on cash held in the trust account.
The company completed its Initial Public Offering on June 27, 2024, raising $230,000,000 through the sale of 23,000,000 units. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.
Simultaneously with the Initial Public Offering, Graf Global Corp. completed the sale of 6,000,000 private placement warrants, generating additional gross proceeds of $6,000,000.
Graf Global Corp. reported total assets of $234,090,252 as of September 30, 2024, with cash held in the trust account amounting to $233,093,615.
The company's management has discretion over the use of the net proceeds from the Initial Public Offering and the sale of private placement warrants, which are intended for consummating a business combination.
Graf Global Corp. has until June 27, 2026, to complete a business combination or it will trigger an automatic winding up, dissolution, and liquidation.
The company disclosed no off-balance sheet arrangements and no long-term debt or capital lease obligations as of September 30, 2024.
Graf Global Corp. identified no material changes to its risk factors since its Initial Public Offering prospectus filed with the SEC.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Graf Global Corp. Class A quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.