Gravity Acquisition is a blank check company incorporated in the Cayman Islands with no operations. The company's purpose is to raise capital through an initial public offering to acquire or merge with one or more private businesses, bringing them into the public markets through a business combination. Gravity holds its public offering proceeds in a U.S. trust account invested in short-term government securities while management searches for an acquisition candidate. Gravity has 15 months from the closing of its offering to complete a transaction, with the option to extend the timeline up to 21 months. If Gravity fails to complete a transaction within this timeframe, it will liquidate the trust account and return the funds to public shareholders. Public shareholders also retain the right to redeem their shares for their pro rata portion of the trust account if a deal is proposed. Gravity's business model relies on completing a transaction to generate value for its sponsor, which holds founder shares that convert into ordinary shares upon deal completion. Gravity has not selected a specific acquisition target and excludes companies that use variable interest entity structures.