Recent Updates — TONT
The board of directors elected to extend the date by which the company must consummate a business combination from October 27, 2026, to November 27, 2026. This one-month extension is permitted under the company's amended and restated memorandum and articles of association, which allows for up to three such extensions through December 27, 2026. Graf Global Corp. operates as a special purpose acquisition company (SPAC) focused on identifying and merging with private businesses.
Graf Global Corp. filed an 8-K furnishing an investor presentation related to its previously announced Business Combination Agreement dated June 12, 2026, with BIG3 HoldCo LLC and affiliated entities. The transaction involves a merger that would take the premier professional 3-on-3 basketball league public via Graf's SPAC structure. The filing outlines key terms including an estimated pro forma enterprise value of approximately $337 million, based on a pre-money equity value of $284 million for BIG3 and roughly $91 million in cash remaining in Graf's trust account. The parties expect to file a registration statement on Form S-4 shortly, with shareholder approval sought via proxy solicitation and an anticipated closing in early 2027. Graf Global Corp. operates as a special purpose acquisition company focused on identifying and merging with private companies.
Graf Global Corp.'s board extended the deadline to consummate a business combination from September 27, 2026, to October 27, 2026. This one-month extension is permitted under the company's charter, which allows up to three such extensions through December 27, 2026. The company operates in the special purpose acquisition company (SPAC) industry.
Graf Global Corp. announced it will change its NYSE American ticker symbols from "GRAF", "GRAF U", and "GRAF WS" to "TONT", "TONT U", and "TONT WS", respectively, effective July 27, 2026. This change anticipates the closing of a business combination with BIG3 HoldCo LLC, a professional 3-on-3 basketball league, expected in the fourth quarter of 2026. The transaction requires the company to deliver at least $50 million in net cash proceeds to BIG3. As of July 16, 2026, the cash value per share available for redemptions was approximately $10.86. The company is a blank check company operating as a Special Purpose Acquisition Company (SPAC) designed to effect a business combination.
Graf Global Corp. shareholders approved an amendment to extend the deadline to consummate an initial business combination from June 27, 2026, to September 27, 2026, with options for further monthly extensions up to December 27, 2026. In connection with the meeting, shareholders holding 14,590,367 Class A ordinary shares redeemed their shares for approximately $10.86 per share, leaving approximately $91.3 million in the trust account. Graf Global Corp. is a blank check company operating in the financial services sector through its pursuit of a business combination.
On June 26, 2026, Graf Global Corp. convened an extraordinary general meeting to seek shareholder approval for an amendment to extend the deadline to consummate its initial business combination. Following a shareholder vote to adjourn, the meeting was rescheduled for 3:00 p.m. Eastern Time on the same day. Shareholders of record as of June 1, 2026, are eligible to vote. The company is a special purpose acquisition company (SPAC) that operates as a shell company to effect a business combination.