Graf Acquisition IV once again adjourned, without conducting any business, the stockholders meeting to vote on a proposed merger with NKGen Biotech. The meeting is now scheduled for 10 a.m. Eastern on Sept. 20.
This is the third adjournment of the merger vote.
The SPAC said more than two weeks ago that, although 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. Graf IV reiterated in a press release today the need to continue pursuing more funding. Grasf IV raised nearly $172 million in a June 2021 IPO, but redemtions since then have chiseled away at the trust.
The $160 million deal was announced in April.
Graf IV is led by SPAC veteran James Graf.
NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK Natural Killer (“NK”) cell therapeutics. Read more.
