Graf Global Corp

Previous wording

For the three months ended June 30, 2024, we had a net income of $27,382, which consists of interest income on cash held in the Trust Account of $98,517, offset by operating costs of $71,135.

Current wording

For the three months ended September 30, 2024, we had a net income of $2,799,891, which consists of interest income on cash held in the Trust Account of $2,995,098, offset by operating costs of $195,207.

Previous wording

For the six months ended June 30, 2024, we had a net loss of $45, which consists of operating costs.

Current wording

For the nine months ended September 30, 2024, we had a net loss of $45, which consists of operating costs.

Previous wording

For the six months ended June 30, 2024, cash used in operating activities was $241,747. Net loss of $18,818 was affected by payment of operation costs through promissory note of $32,151 and interest earned on cash held in the Trust Account of $98,517. Changes in operating assets and liabilities used $156,563 of cash for operating activities.

Current wording

For the nine months ended September 30, 2024, cash used in operating activities was $827,464. Net loss of $2,781,073 was affected by payment of operation costs through promissory note of $32,151 and interest earned on cash held in the Trust Account of $3,093,615. Changes in operating assets and liabilities used $547,073 of cash for operating activities.

Previous wording

For the six months ended June 30, 2023, cash used in operating activities was $0. Net loss of $45 was affected by payment of operation costs through promissory note of $2,898. Changes in operating assets and liabilities used $2,853 of cash for operating activities.

Current wording

For the nine months ended September 30, 2023, cash used in operating activities was $0. Net loss of $45 was affected by payment of operation costs through promissory note of $2,898. Changes in operating assets and liabilities used $2,853 of cash for operating activities.

Previous wording

As of June 30, 2024, we had cash held in the Trust Account of $230,098,517 (including approximately $98,517 of interest income). We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

Current wording

As of September 30, 2024, we had cash held in the Trust Account of $233,093,615 (including approximately $3,093,615 of interest income). We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

Previous wording

As of June 30, 2024, we had cash of $1,160,185. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

Current wording

As of September 30, 2024, we had cash of $568,772. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

Previous wording

We do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities, other than an agreement to pay an affiliate of the Sponsor $20,000 per month for office space, utilities and secretarial and administrative support services provided to members of the management team. We began incurring these fees on June 25, 2024 and will continue to incur these fees monthly until the earlier of the completion of the Business Combination and our liquidation. For the three and six months ended June 30, 2024, the Company incurred $4,000 in fees in administrative support services fee, respectively, of which such amount is included in accounts payable and accrued expenses in the accompanying balance sheet. For the three and six months ended June 30, 2023, the Company did not incur any payment for these services.

Current wording

We do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities, other than an agreement to pay an affiliate of the Sponsor $20,000 per month for office space, utilities and secretarial and administrative support services provided to members of the management team. We began incurring these fees on June 25, 2024 and will continue to incur these fees monthly until the earlier of the completion of the Business Combination and our liquidation. For the three and nine months ended September 30, 2024, the Company incurred and paid $60,000 and $64,000 in fees in administrative support services fee, respectively. For the three and nine months ended September 30, 2023, the Company did not incur any payment for these services.