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BIG3 HoldCo

Definitive (DA signed)

Consumer Discretionary · professional 3-on-3 basketball league

What it is
A private company in consumer discretionary preparing to list via a SPAC merger. Full profile in progress.
What it’s doing now
Merging with Graf Global Corp. (TONT) — definitive (da signed), announced Jun 12, 2026.
What you should know
The real share count puts the effective valuation 99% above the announced $290M. The deal carries a $50M minimum-cash condition — heavy redemptions can break it.
Profile in progress — we only publish what we can verify in filings, and for this company that work isn’t finished. Identity and deal facts above are current; business detail, financials and peers will appear as the filings are parsed.

What the company says about itself

Web research — not audited
What our web check found

[WEB-INTEL 2026-08-25] 10 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "valuing Ice Cube's 3‑on‑3 basketball league at $290 million" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal with Graf Global Corp. values the league at $290 million pre-money" [https://www.latimes.com/business/story/2026-06-12/ice-cubes-big3-to-go-public-in-290-million-deal-opening-league-to-fan-investors] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Big3 HoldCo LLC announced on June 12 that it will go public at a $290 million valuation" [https://frontofficesports.com/newsletter/asset-class-ice-cubes-big3-plans/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "BIG3 basketball league is going public at a $290 Million valuation" [https://www.facebook.com/CourtsideBuzzFB/posts/breaking-ice-cubes-big3-league-is-going-public-at-a-290-million-valuation-giving/1423539566479735/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal values Big3 at $290 million on a pre-money basis" [https://www.bizjournals.com/houston/news/2026/06/16/big3-professional-basketball-go-public-deal-spac.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "BIG3 at $290 million pre-money" [https://www.listingtrack.io/company/16660] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "valuing Ice Cube’s 3‑on‑3 basketball league at $290 million (~$322 million enterprise value)" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Equity valuation: $290 million" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Enterprise value: $322 million" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "SPAC REDEMPTION REFERENCE PRICE $10 per share" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] [WEB-INTEL 2026-08-25] 5 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "valuing Ice Cube's 3‑on‑3 basketball league at $290 million (~$322 million enterprise value)" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is subject to conditions including GRAF shareholder approval and the level of public shareholder redemptions at approximately $10 per share" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "SPAC REDEMPTION REFERENCE PRICE: $10 per share" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "EQUITY VALUATION: $290 million" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Enterprise value: $322 million" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] [WEB-INTEL 2026-08-25] 5 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "valuing Ice Cube's 3‑on-3 basketball league at $290 million" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "enterprise value: $322 million" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "SPAC REDEMPTION REFERENCE PRICE $10 per share" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Business Combination Agreement date: June 12, 2026" [https://www.stocktitan.net/sec-filings/TONT/425-graf-global-corp-business-combination-communication-946707603916.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "BIG3 at $290 million pre-money" [https://www.listingtrack.io/company/16660] [WEB-INTEL 2026-08-25] 6 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "valuing Ice Cube's 3‑on‑3 basketball league at $290 million" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal with Graf Global Corp. values the league at $290 million pre-money" [https://www.latimes.com/business/story/2026-06-12/ice-cubes-big3-to-go-public-in-290-million-deal-opening-league-to-fan-investors] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "go public at a $290 million valuation" [https://frontofficesports.com/newsletter/asset-class-ice-cubes-big3-plans/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "values the league at $290 million on a pre-money basis" [https://www.bizjournals.com/houston/news/2026/06/16/big3-professional-basketball-go-public-deal-spac.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "redemptions at approximately $10 per share" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "SPAC REDEMPTION REFERENCE PRICE $10 per share" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] [WEB-INTEL 2026-08-25] 5 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "valuing Ice Cube’s 3‑on‑3 basketball league at $290 million (~$322 million enterprise value)" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "level of public shareholder redemptions at approximately $10 per share" [https://www.stocktitan.net/sec-filin [WEB-INTEL 2026-08-26] 7 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction values BIG3 at $290 million on a pre-money basis" [https://www.fidelity.com/news/article/mergers-and-acquisitions/202606120915BIZWIRE_USPR_____20260612_BW416476] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal with Graf Global Corp. values the league at $290 million pre-money" [https://www.latimes.com/business/story/2026-06-12/ice-cubes-big3-to-go-public-in-290-million-deal-opening-league-to-fan-investors] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Big3 announced it will go public at a $290 million valuation through a special purpose acquisition company merger" [https://frontofficesports.com/newsletter/asset-class-ice-cubes-big3-plans/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "BIG3 at $290 million pre-money" [https://www.listingtrack.io/company/16660] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Graf Global Corp. plans a SPAC merger with BIG3 HoldCo LLC, valuing Ice Cube's 3‑on-3 basketball league at $290 million (~$322 million enterprise value)" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "SPAC REDEMPTION REFERENCE PRICE: $10 per share" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is subject to conditions including GRAF shareholder approval and the level of public shareholder redemptions at approximately $10 per share" [https://www.stocktitan.net/sec-filings/GRAF/425-graf-global-corp-business-combination-communication-8613790dd31e.html]

Source: company web presence · marketing claims are reported as claims, never merged into the filed figures above.

The deal it’s entering

BIG3 HoldCo is merging with Graf Global Corp. (TONT), a $230M SPAC currently marked Deal announced and trading at $10.88 against $10.87 in trust per share.

Headline equity value$290M
Effective valuation (all shares)$578M+99% vs headline
Sponsor promote20%
Minimum cash to close$50M

Structure per SEC accession(s) 0001104659-26-073527, 0001104659-26-062627. How to read these numbers: headline vs effective valuation · what a definitive agreement commits

What exactly is being valued, and at what

Was this deal done at an expensive or a cheap valuation?

SpacBrain’s read on the price

No multiple can be computed

We hold no revenue figure in US dollars for BIG3 HoldCo LLC, so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $577.5M regardless.

We have not extracted a revenue figure for this company from its filings yet. That is our gap, not a statement about the business.

What the buyers are paying for the whole company$577.5M

Post-dilution equity (net debt unknown).

Divided by what the company actually sells in a yearno revenue figure on file

Not extracted from the filings yet.

= what this deal pays for every dollar of those salesno multiple

Not computable — no revenue figure has been extracted from the filings yet.

What the stock market pays for its closest listed peersno comparable multiple

No listed comparable carries a revenue multiple we can use.

What qualifies the figures above

  • Struck on the post-dilution value of $577.5M, not the announced $290M — new shares handed to the sponsor, warrant holders and the PIPE are part of what public buyers are really paying.
  • The target's cash and debt are not in the filings we have, so this is an equity value used as a stand-in for enterprise value.

Common questions

Is BIG3 HoldCo going public?

BIG3 HoldCo has a signed merger with the SPAC Graf Global Corp. (TONT), announced Jun 12, 2026. Deal status: Definitive (DA signed).

What is BIG3 HoldCo's SPAC deal valuation?

The announced headline equity value is $290M, but counting every share class — founder promote, PIPE and public shares — the effective valuation is $578M, 99% above the headline.

Was BIG3 HoldCo bought at an expensive or a cheap valuation?

We hold no revenue figure in US dollars for BIG3 HoldCo LLC, so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $577.5M regardless.

Does BIG3 HoldCo have revenue?

The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.

Educational content, not investment advice.

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