 Graf Industrial Corp. GRAF NYSE: GRAF, GRAF.U, GRAF WS, a special purpose acquisition company founded by James Graf and Michael Dee, announced today that it has entered into a definitive agreement with Velodyne Lidar, Inc. Velodyne or the Company and its founder David Hall, pursuant to which GRAF will combine with Velodyne through a merger of a wholly-owned subsidiary of GRAF with and into Velodyne, with Velodyne surviving as a wholly-owned subsidiary of GRAF. Current Velodyne shareholders, including David Hall and strategic investors Ford, Baidu, Inc., Nikon Corporation and Hyundai Mobis, will retain an equity interest of more than 80 in the combined company. Upon the closing of the transaction, GRAF will be renamed Velodyne Lidar, Inc. and will remain NYSE-listed under the new ticker symbol VLDR. 