Graf Acquisition Corp. IV (GFOR) Closes NKGen Biotech Deal

Graf Acquisition Corp. IV (NYSE:GFOR) has closed its combination with NKGen Biotech and its shares and warrants will begin trading on the Nasdaq under the symbols “NKGN” and “NKGNW” today.

The SPAC secured shareholder approval for the deal last week with 84.3% redemptions. Graf IV CEO James Graf is set to join the combined company as its interim CFO.

The $160 million combination was initially announced in April of this year. Santa Ana, California-based NKGen has five pharmaceutical formulas that have each reached some stage of Phase I and Phase II clinical trials seeking potential therapies for cancer and neurodegenerative conditions like Parkinson’s and Alzheimer’s.

The company expects to release interim data from its Phase I trials for drug candidate SNK-02 for solid tumor treatments before the end of 2023.

ADVISORS

• Company
  • Cooley LLP is acting as legal advisor to NKGen and NKMax.
• Sponsor
  • White & Case LLP is acting as legal advisor to Graf.