Houston blank check company completes IPO

Graf Industrial, a blank check company based in NW Houston, has completed its Initial Public Offering (IPO). The company raised $225 million by offering 22.5 million units at a price of $10, in line with the offering terms.

Graf was formed earlier this year by blank check veteran James Graf. It intends to buy an industrial business in the US or Canada worth $1 billion. Mr Graf has served as a founder and executive officer or director of 4 special purchase acquisition companies (SPAC).

The units of the company are now listed on the NYSE under the symbol GRAF.U.

The company is the first Houston-area business to complete an IPO since Spirit of Texas Bank, back in May.


Houston blank check company files for $225m IPO

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