James Graf's SPAC Graf Acquisition IV prices $150 million IPO

Graf Acquisition IV, a blank check company led by SPAC veteran James Graf targeting industrial and other sectors, raised $150 million by offering 15 million units at $10. Each unit contains one share of common stock and one-fifth of a warrant, exercisable at $11.50.

The company is led by CEO 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; +3% from $10 IPO price) in September 2020. Other SPACs led by Graf include Graf Acquisition II (GTOO.U) and Graf Acquisition III (GRAF.U), which are currently in the pipeline.

Graf Acquisition IV plans to list on the NYSE under the symbol GFOR.U. Oppenheimer & Co. and J.P. Morgan acted as lead managers on the deal.