Graf Global Corp. reported its financial results for the period ending September 30, 2024, following its Initial Public Offering (IPO) on June 27, 2024. The company raised gross proceeds of $230 million from the sale of 23 million units, which included an over-allotment of 3 million units. Additionally, it completed a private placement of 6 million warrants, generating $6 million. The total cash placed in the Trust Account after the IPO and private placement amounted to $230 million.

As of September 30, 2024, Graf Global Corp. reported total assets of approximately $234.1 million, with $233.1 million held in the Trust Account. The company’s total current assets were $830,504, while total current liabilities decreased to $120,787 from $156,089 as of December 31, 2023. However, total liabilities increased significantly to $9.9 million, compared to $156,089 at the end of the previous fiscal year. The accumulated deficit rose to $(8.9 million) from $(181,089) as of December 31, 2023, reflecting the company's ongoing expenses and operational costs.

For the three months ended September 30, 2024, Graf Global Corp. reported a net income of $2.8 million, with basic and diluted net income per ordinary share of $0.10. This marked a significant improvement compared to the same period in 2023, where no net income or loss was reported. For the nine months ended September 30, 2024, the net income totaled $2.8 million, a notable recovery from a net loss of $(45) in the same period of the previous year. The company generated other income of $3.1 million for the nine months, primarily from interest on the Trust Account.

Operating costs for the three months ended September 30, 2024, were reported at $195,207, while total operating costs for the nine months reached $312,542. The company incurred $60,000 in administrative support services fees for the third quarter, compared to no such fees in the same period of 2023.

Graf Global Corp. is classified as a shell company and operates as a blank check company, aiming to complete a business combination with unidentified businesses. The company has until June 27, 2026, to finalize its initial business combination, failing which it will face automatic winding up and liquidation. As of September 30, 2024, the company had sufficient funds for its working capital needs for at least one year and does not anticipate needing additional funds for operating expenditures.