Graf Acquisition IV priced its IPO of 15 million units at a price of $10 each.
Units begin trading today on the NYSE under GFOR.U. Each consists of one share of common stock and one-fifth of one redeemable warrant, with whole warrants exercisable at $11.50 for a share. Once the securities comprising the units begin separate trading, stock and warrants are expected to list under GFOR and GFOR WS, respectively.
J.P. Morgan and Oppenheimer & Co. are joint book-running managers for the offering. The underwriters have a 45-day option to purchase up to an additional 2.25 million units at the IPO price to cover any over-allotments.
Led by SPAC veteran James Graf, the blank-check company has a broad mandate, able to target a business or businesses in any sector, and may be upsized based on demand or a so-called greenshoe. Read more.
