Deal Details
Kensington Completes $230 Million IPO
Summary
Kensington Capital Acquisition Corp. IV (“Kensington” or the “Company”) (NYSE: KCAC.U), a special purpose acquisition company, recently completed an initial public offering of 23,000,000 units, including the exercise in full of the underwriters’ overallotment option, at a price of $10.00 per unit, generating gross proceeds of approximately $230.0 million. The Company intends to use the net proceeds from this offering to effect a future business combination in the global automotive and automotive-related sector.
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 for a target business operating in the global automotive and automotive-related sector. The Company is led by Chairman and Chief Executive Officer, Justin Mirro, Vice Chairman and President, Deieter Zetsche, Chief Financial Officer, Daniel Huber, and Chief Technology Officer, Simon Boag. The Company's independent directors include Thomas LaSorda, Nicole Nason, Anders Pettersson, Mitchell Quain, Donald Runkle and Matthew Simoncini.CONTACT US TO LEARN MORE
- Date
- March 2022
- Company
- Kensington Capital Acquisition Corp. IV
- Transaction
- Equity Capital Markets
- Sectors
-
Industrial
Technology & Services - Verticals
-
Vehicle Technology & Mobility
- Target Geography
- North America
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