M&A - GRAPHJET TECHNOLOGY

Form Type: 10-K

Filing Date: 2025-07-15

Corporate Action: Merger

Type: New

Accession Number: 000121390025063924

Filing Summary: Graphjet Technology, previously known as Energem Corp, underwent a business combination on March 14, 2024, through which it acquired all shares of Graphjet Technology Sdn. Bhd., making it a wholly owned subsidiary. Following the acquisition, Energem changed its name to Graphjet Technology. The report discusses the company's innovative technology that converts palm kernel shells into synthetic graphene and graphite, beneficial in various industries, particularly in lithium-ion batteries for electric vehicles (EVs). Despite having the technology, Graphjet has not yet made sales but has entered a significant supply agreement with Toyoda worth $30 million annually. The document also highlights risks associated with the company's operations such as dependency on third-party manufacturers, potential competition, regulatory challenges, and the volatility of the graphite market due to geopolitical tensions.