Graf Global Business Summary

Graf Global Corp. (GRAF) operates as a special purpose acquisition company (SPAC), or "blank check" company, structured to facilitate a merger, capital stock exchange, asset acquisition, or similar business combination with an unidentified target. As of March 2026, the company remains in its search phase, generating revenue primarily through interest income earned on the approximately $230 million held in its trust account following its June 2024 initial public offering. The firm maintains a broad investment mandate but strategically targets enterprises with stable free cash flow and high growth potential that can leverage the management team's operational expertise and public market access. In the competitive landscape of the SPAC market, Graf Global competes with other institutional investment vehicles such as Ares Acquisition Corporation II, Gores Holdings X, and Churchill Capital Corp. Relative to these peers, the company positions itself as a veteran-led vehicle, utilizing its sponsor's extensive track record of successfully navigating the de-SPAC process to attract high-quality private companies seeking a public listing before its June 2026 liquidation deadline. The company is led by Chief Executive Officer, CFO, and Director James A. Graf, a prolific SPAC sponsor with over 35 years of experience in international capital markets and corporate management. Graf has served as a founder or executive for eight U.S.-listed SPACs, having successfully orchestrated public transitions for companies such as Velodyne Lidar, NKGen Biotech, and Williams Scotsman. His professional pedigree includes nearly two decades in investment banking, notably as a Managing Director at Deutsche Bank in Hong Kong and Merrill Lynch in Singapore. The leadership team is supported by an independent board of directors that includes Frederick Zeidman, Chairman Emeritus of the United States Holocaust Memorial Council; Louis Belanger-Martin, co-founder of Global Eagle Entertainment; and Kenneth Weinstein, former President of the Hudson Institute. This collective expertise in global M&A, regulatory compliance, and industrial scaling provides the firm with significant institutional credibility as it evaluates potential business combinations in the final months of its investment period.