Graf Global, BIG3 HoldCo Agree to $290 Million Merger Deal
Graf Global (GRAF) and BIG3 HoldCo, a professional 3-on-3 basketball league, agreed on a merger transaction that values BIG3 at $290 million, before potential earnouts, the companies said Friday.BIG3 shareholders will receive $290 million in stock consideration and be entitled to additional 2 million earnout shares based on share price performance, according to the statement.The transaction is expected to close in Q4, subject to certain conditions, including raising at least $50 million from Graf's trust account and other transaction-related funding, the companies said. The merged company will be named Big3 Basketball Holdings and is expected to be listed on NYSE or Nasdaq under the "TONT" ticker, the companies said.Price: $10.87, Change: $+0.04, Percent Change: +0.37%
