Graf Acquisition IV announced today that on Sept. 20 it adjourned, without conducting any business, the stockholders meeting to vote on a business combination with NKGen Biotech. This marks the fourth time the SPAC has postponed the vote.
The meeting will reconvene Sept. 25 at 4 p.m. Eastern, the SPAC said.
The SPAC raised nearly $172 million in a 2021 IPO although redemptions since then have taken a toll on the trust.
Graf IV has said it has the votes to approve the deal, but has been working to raise the minimum cash required to close. However, the SPAC announced today that NKGen has now waived the $50 million minimum cash condition to seal the deal.
NKGen is a clinical-stage biotechnology company focused on the development and commercialization of autologous, allogeneic, and CAR-NK natural killer cell therapies. NKGen is headquartered in Santa Ana, CA. Read more.
