MergerJun 12, 2026, 04:43 PM
Graf Global Corp. to Merge with Big3
AI Summary
Graf Global Corp. (GRAF) announced a business combination agreement with Big3, a sports entertainment company operating a professional three-on-three basketball league. The transaction involves Graf re-domiciling to Delaware and then merging with a SPAC subsidiary, while Big3 will merge with another subsidiary, with Big3 continuing as a subsidiary of Pubco. The business combination is expected to close in the fourth quarter of 2026, subject to shareholder and noteholder approvals. The consideration for Big3 includes $290 million plus its cash position, with additional unvested Earnout Shares also to be issued.
Key Highlights
- Graf Global Corp. to merge with Big3 in a business combination transaction.
- The business combination is anticipated to close in the fourth quarter of 2026.
- Aggregate consideration for Big3 equity holders includes $290M plus Big3's cash position, divided by the Per Share Price.
- An additional 2,000,000 unvested shares of Pubco Class A Common Stock will be issued as Earnout Shares.
- Big3 operates a professional three-on-three basketball league, generating revenue from team sales, sponsorships, advertising, tickets, and merchandise.
Price Impact
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