Graf Acquisition Corp. IV
GFOR-WT
New York Stock Exchange0.39
USD
+0.01
- -
CIK
0001845459
Return %
Stock
S&P500
1Y
107.74
26.53
3Y
107.74
76.60
5Y
107.74
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Healthcare
- Industry
- Biotechnology
- Address
- CIK
- 0001845459
- Similar Companies
- Business
- Graf Acquisition Corp. IV (GFOR-WT) operates as redeemable warrants of a special purpose acquisition company (SPAC) that completed a business combination with NKGen Biotech, Inc. in September 2023; each whole warrant entitles the holder to purchase one share of common stock at an exercise price of $11.50 per share. The underlying SPAC, incorporated in 2021 and headquartered in The Woodlands, Texas, had no significant operations prior to the merger, focusing instead on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, primarily targeting opportunities in the United States and select international markets. Post-merger, Graf Acquisition Corp. IV rebranded to NKGen Biotech, Inc., a clinical-stage biotechnology firm developing autologous, allogeneic, and CAR-NK natural killer cell therapies for neurodegenerative diseases such as Alzheimer's and Parkinson's, as well as autoimmune and oncological indications; its lead candidate, troculeucel, received U.S. FDA authorization for an Expanded Access Program in 2025 to treat up to 20 patients with neurodegenerative conditions. The warrants (GFOR-WT), which separated for trading on the NYSE alongside the common stock (GFOR) and units (GFOR.U), transitioned to OTC trading under symbols associated with NKGen Biotech (e.g., NKGNW) following the merger and Nasdaq listing of the combined entity's common stock and public warrants, with recent prices around $0.06 as of December 2025 reflecting significant dilution and market challenges. Graf's core offerings as a SPAC included up to 17.16 million units initially priced at $10 each, comprising one Class A ordinary share and one-half of one redeemable warrant, enabling investors access to de-SPAC transactions in biotechnology and related sectors. Recent developments include the September 2023 closure of the NKGen merger after multiple adjournments of the special stockholder meeting to secure financing and meet the $50 million minimum cash condition, followed by NKGen's 2025 FDA Expanded Access approval for troculeucel, first patient dosing under compassionate use for mild Alzheimer's, a partnership with HekaBio K.K. for Japanese development, and financing arrangements such as a $2.5 million stock and warrant agreement with Asia Advisors Limited (including warrants for up to 20 million shares at $0.25) and a warrant downside protection conversion with Kepos Alpha Master Fund L.P. These activities underscore ongoing capital raises amid NKGen's clinical advancements and stock volatility, with no new SPAC-specific products or reorganizations reported for Graf itself post-merger. The company maintains operations through its post-combination biotechnology focus without notable subsidiaries or parent relationships beyond the merger structure.