Kensington Capital Acquisition Corp. (KCAC.U), announced the pricing of their upsized $200 million SPAC IPO tonight and the units are expected to begin trading tomorrow, Friday, June 26th, under the symbol Nasdaq: KCAC.U.
Kensington Capital intends to pursue companies in North American automotive & other automotive-related sectors and will be led by Justin Mirro, as Chairman and Chief Executive Offer. He is joined by Robert Remenar, as Vice Chairman and President. Both men have engineering backgrounds and deep roots in Michigan’s auto sector. They are also joined by Chief Technology Officer, Simon Boag, who was recently inducted into the Automotive Hall of Fame.
Total SPAC deal count for 2020 year-to-date is now 35 with $11.0 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, June 30, 2020.
UBS Securities LLC and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated is acting as lead manager. Hughes Hubbard & Reed LLP and Skadden, Arps, Slate, Meagher & Flom LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP acted as auditor.
SPACInsider 2024 Awards 2024 was clearly a rebuilding year for SPACs and the pace didn’t really gather momentum until June. But in typical SPAC fashion, once the market catches fire, it builds very, very quickly. With that being said, there are some noteworthy standouts this year that are worth highlighting. As such, this is the...
At the SPAC of Dawn (UPDATED) It was a slow start to the day after the Christmas holiday, especially because the SEC was “experiencing technical difficulties” this morning. That makes for a slow news day. Other than that, we hope everyone had a great holiday and is easing back into the work flow. Deals and...
Aimei Health Technology II Co., Ltd (NASDAQ:AHJKU) has filed for a $60 million SPAC ostensibly to pair up with a small cap biotech or medical device target, but its team’s experience both in SPACs and beyond suggest the vehicle will be open to a broad set of potential targets. It is the first SPAC to...
At the SPAC of Dawn The markets got to open one stocking early yesterday, but it was mostly coal as it showed durable goods orders had declined by more than twice as much as expected to -1.1% in November. It wasn’t all signs of naughtiness, however. Amid the numbers that came public one day earlier...
Copley Acquisition Corp has filed to raise a $150 million SPAC to hunt for a technology or lifestyle target in either the Asia Pacific or North America regions. The new S-1 also advances underwriter Clear Street in the league tables as it has backed two of the three latest SPACs to file in December, and...