Graf Acquisition IV announced today that on Sept. 8 it adjourned, without conducting any business, the stockholders meeting to vote on a proposed merger with NKGen Biotech. The meeting will reconvene at 4 p.m. Eastern on Sept. 13.
The SPAC said two weeks ago it has already received enough votes to approve the deal, it still needs to obtain additional financing to satisfy the $50 million minimum cash condition to close.
The additional time before Wednesday’s vote allows Graf IV to continue pursuing financing, which may be in the form of equity, debt, grants or other equity-linked securities or derivatives. NKGen in its sole discretion may waive the minimum cash condition to close.
The SPAC raised nearly $172 million in a 2021 IPO although redemptions since then have taken a toll on the trust. Read more.
