Graf Global to Merge BIG3 with SPAC at $290M Valuation
GRAF•Graf Global Corp agreed to merge with Ice Cube's BIG3 basketball league in a SPAC valuing the league at a $290 million pre-money equity valuation. The merger will list under ticker TONT on NYSE or Nasdaq in fourth quarter 2026 as the first publicly traded professional sports league.
1. Merger Agreement Details
Graf Global Corp has reached a definitive agreement to merge with BIG3, Ice Cube's 3-on-3 basketball league, marking the SPAC's deal as the first to take a professional sports league public in the US.
2. Valuation and Listing Timeline
The transaction values BIG3 at a $290 million pre-money equity valuation and plans a NYSE or Nasdaq listing under ticker TONT, with the closing targeted in fourth quarter 2026.
3. Leadership and League Structure
Founded in 2017, BIG3 features eight teams coached by legends like Julius Erving and Gary Payton under a unique Fireball3 ruleset, and Ice Cube will remain CEO following the merger.
