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Graf Global Corp. Class A (GRAF0.00%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The company is a blank check company incorporated in the Cayman Islands, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
Graf Global Corp. has not engaged in any operations and has not generated any revenues to date. The company is currently in the process of identifying a target company for a business combination.
The company completed its initial public offering on June 27, 2024, raising $230 million through the sale of 23 million units, each consisting of one Class A ordinary share and one-half of one redeemable warrant.
The proceeds from the initial public offering were placed in a trust account and will be used to complete a business combination. As of December 31, 2024, the trust account held approximately $235.8 million, including interest.
Graf Global Corp. has until June 27, 2026, to complete a business combination. If the company is unable to complete a business combination by that date, it will redeem 100% of the public shares for cash.
The company is currently evaluating potential business combination targets and may pursue an acquisition opportunity in any industry or geographic location.
Graf Global Corp. is classified as an emerging growth company and a smaller reporting company, which allows it to take advantage of certain reduced disclosure requirements.
The company has identified several risk factors, including its status as a blank check company with no operating history, the potential inability to complete a business combination, and the dependence on its management team.
The company's executive officers and directors have not received any cash compensation for their services, but they are entitled to reimbursement for out-of-pocket expenses incurred in connection with activities on behalf of the company.
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 annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.