Graf Global Corp (GRAF) is a blank check special purpose acquisition company incorporated on November 17, 2021 as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company has generated no revenue to date and holds nominal assets consisting almost entirely of cash, classifying it as a shell company under the Exchange Act. Public shareholders are entitled to redeem shares at approximately $10.00 per share from proceeds held in a Trust Account if a Business Combination is not completed. The Combination Period deadline is June 27, 2026, and management has disclosed going concern doubt as of December 31, 2025, citing the liquidity condition and mandatory liquidation risk if a Business Combination is not consummated by that date. The company may pursue an acquisition in any industry or geographic location.

Revenue model

No revenue generated as of December 31, 2025. The structure relies on IPO proceeds and Private Placement Warrant proceeds held in a Trust Account, with operating costs funded by sponsor loans or additional capital raises.

Products and services

No commercial products or services. The sole activity is identifying and completing an initial Business Combination with one or more target businesses.

Customers and end markets

No customers or end markets. The target industry and geography for a potential Business Combination had not been determined as of the filing date of May 11, 2026.

Value-chain role

SPAC sponsor vehicle seeking to identify, negotiate, and close an acquisition of a private operating business, providing a path to public markets for the target.

Geographic exposure

Incorporated in the Cayman Islands. No operating geographic exposure disclosed. Target Business Combination geography is unrestricted per the 10-K filed May 11, 2026.

Source: SEC 10-K, filed 2026-05-11

Industry: Blank Checks