Wed, Aug 14, 8:11 PM (153 days ago)
Graf Global Corp. reported its quarterly financial results for the period ended June 30, 2024. The company generated gross proceeds of $230,000 from its Initial Public Offering (IPO), which included the full exercise of an over-allotment option. As of the end of the quarter, total assets stood at approximately $231,284, with $230,099 held in a Trust Account. The company incurred operating costs of $117,335, leading to a net loss of $18,818 for the six months ended June 30, 2024. During the same period, it reported a net income of $27,382 for the quarter, primarily due to interest income from the Trust Account. Cash flow analysis indicated a significant outflow from operating activities, totaling $241,747. The company maintains a working capital of $1,071,057, with $1,160,185 in cash on hand. Future operations hinge on successfully completing a business combination within 24 months, amid potential market volatility and geopolitical uncertainties impacting its acquisition strategy. The company has no current long-term liabilities but may seek additional financing to support its operations or business combination efforts if needed.