James Graf
CEO
James Graf is CEO of Graf Global Corp., his eighth SPAC as CEO, CFO and/or active director since 2011. He also serves as Interim CFO of NKGen Biotech, his last SPAC target. Previous closed transactions include Global Eagle, Videocon d2h, Williams Scotsman, Target Hospitality, Velodyne Lidar, Crown LNG and NKGen.Prior to SPAC life, Jim was an investment banker for two decades, including roles as President of Deutsche Bank’s investment bank in Hong Kong and managing director at Merrill Lynch. He later founded enterprise software company Praedea Solutions and served as a financial consultant to MGM Studios.
Oct. 20, 2025
Why PIPEs Aren’t Dead, But Very Different Now
In this episode of The SPAC Podcast, James breaks down the evolving role of Private Investments in Public Equity (PIPEs) and why they remain an essential but more challenging, tool for SPAC deals today. James explains how PIPEs looked deceptively easy during the 2020 boom, when leaked deals pushed stocks to $20 and investors happily committed to $10 PIPEs. But today, PIPEs take time, trust, and careful structuring to close successfully. He highlights two major issues that derailed many deals i...
Guest: James Graf
Oct. 9, 2025
How the Investor Base for De-SPACs Is Evolving
In this episode of The SPAC Podcast, James shares how the investor base for de-SPACs has shifted and why sponsors must focus on attracting long-term, fundamental investors. James explains that while redemption risk is always present, the “unicorn” is the fundamental investor who buys in between announcement and closing. He notes that some of the most successful deals he’s worked on, those with minimal or no redemptions, were anchored by strong institutions like Putnam and Par Capital that belie...
Guest: James Graf
Sept. 26, 2025
What Makes an Ideal SPAC Target
In this episode of The SPAC Podcast, James outlines what makes the “ideal” SPAC target and why it’s often more about strategic fit and synergies than sector. For James, public-company-ready management is the non-negotiable starting point. But beyond that, he describes scenarios where SPACs create unique value: A company like William Scotsman, with $120M EBITDA and a bolt-on acquisition opportunity that could only be executed via a SPAC. Consolidation plays, where multiple mid-sized companies ...
Guest: James Graf
Aug. 14, 2025
The Shift in SPAC Deal Fee Structures
In this episode of The SPAC Podcast, James Graf, CEO of Graf Global Corp., shares his perspective on how backend deal costs and promote economics are evolving for SPAC sponsors and founders. With over a decade of experience leading multiple SPACs and a background in investment banking at Deutsche Bank and Merrill Lynch, James brings a seasoned view on what’s driving competitive changes in the market. From the traditional three-and-a-half to four percent deferred IPO fee structure to today’s env...
Guest: James Graf
Aug. 5, 2025
SPAC Sponsors Face Tougher Roads Ahead — Here’s Why
In this episode of The SPAC Podcast, hosts Michael Blankenship and Joshua Wilson sit down with seasoned SPAC sponsor James Graf to explore one of the most pressing issues facing the market today: why even strong private companies are hesitant to go public via SPAC. Graf shares candid insights into the challenges sponsors now face—from widespread redemptions to post-merger underperformance. He explains why institutional resistance, weak aftermarket support, and the reputational fallout of failed...
Guest: James Graf
July 28, 2025
What Role Do Retail Investors Play in SPAC Deals Today?
In this episode of The SPAC Podcast, James Graf joins Mike Blankenship to reflect on how retail investor participation in SPACs has shifted since the 2020 boom. James recounts the pre-COVID era, when SPACs often struggled to meet shareholder count requirements, and how that flipped during the peak of meme-driven interest. Retail investors once drove much of the post-IPO volume and price movement, sometimes outpacing institutions in influence. But that surge came with new challenges—rapid inflow...
Guest: James Graf
July 21, 2025
What is a Serial SPAC Sponsor?
What separates one-off SPAC sponsors from those who build lasting platforms? In this episode of The SPAC Podcast, Mike Blankenship speaks with James Graff, a veteran sponsor with over 14 years in the space, about what defines success in today’s market. James explains that long-term sponsors don’t treat SPACs as opportunistic vehicles—they treat them as a repeatable business. The most successful players build institutional platforms, focus on execution, and think ahead to the next transaction. F...
Guest: James Graf
July 18, 2025
SPAC Guest Spotlight: James Graf
In this episode of The SPAC Podcast, co-host Mike Blankenship sits down with James Graff, CEO of Graff Global Corp and a veteran SPAC sponsor who’s been active in the space for over 14 years. James shares how he transitioned from a 20-year career in investment banking to leading SPAC transactions—having now participated in eight as a sponsor or director. He recounts his early exposure to SPACs while working at MGM Studios during its financial restructuring and reflects on what drew him to the s...
Guest: James Graf