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James Graf's SPAC Graf Acquisition IV files for a $150 million IPO

February 23, 2021

Graf Acquisition IV, a blank check company led by SPAC veteran James Graf targeting industrial and other sectors, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.

The The Woodlands, TX-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Graf Acquisition IV would command a market value of $188 million.

The company is led by CEO and Director James Graf, who previously served as a Managing Director of Singapore-based investment bank TC Capital and was a consultant to Metro-Goldwyn-Mayer. Graf has also held various roles with SPACs and previously led October 2018 IPO Graf Industrial, which completed its acquisition of Velodyne Lidar (VLDR; +63% from $10 offer price) in September 2020. Other SPACs led by Graf include Graf Acquisition II (GTOO.U) and Graf Acquisition III (GRAF.U), which are seeking initial public offerings simultaneously with Graf Acquisition III.

Graf Acquisition IV plans to target businesses in the mobility, technology, transportation, new energy software, business real estate services, financial and data services, healthcare, diversified industrial manufacturing, technology, distribution and services industries, as well as those that help to address evolving environmental, social, and governance related issues.

Graf Acquisition IV was founded in 2021 and plans to list on the NYSE under the symbol GFOR.U. Oppenheimer & Co. is the sole bookrunner on the deal.