Deal Details
Kensington Completes $276 Million IPO
Summary
Kensington Capital Acquisition Corp. V (“Kensington” or the “Company”) (NYSE: KCGI.U), a special purpose acquisition company, recently completed an initial public offering of 27,600,000 units, including the exercise in full of the underwriters' overallotment option, at a price of $10.00 per unit, generating gross proceeds of approximately $276 million. The Company intends to use the net proceeds from this offering to effect a future business combination.
Baird served as a lead manager on this offering.
About
Kensington is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (“business combination”). While the Company may pursue an initial business combination target in any industry or sector, it intends to focus its search on companies in the North American and European industrials sector. The Company is led by Chairman and Chief Executive Officer, Justin Mirro, Vice Chairman and President, John Arney, Chief Financial Officer and Secretary, Daniel Huber, and Chief Technology Officer, Peter Goode. The Company's independent directors include Anders Pettersson, Mitchell Quain, Mark Robertshaw, Nickolas Vande Steeg and William E. Kassling.CONTACT US TO LEARN MORE
- Date
- August 2021
- Company
- Kensington Capital Acquisition Corp. V
- Transaction
- Equity Capital Markets
- Sectors
-
Industrial
Technology & Services - Verticals
-
Machinery & Equipment
Aerospace & Defense
Software
Facility, Industrial, Residential & Environmental Services
Defense & Government
- Target Geography
- North America
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