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.
Crown Reserve Acquisition Corp. I (NASDAQ:CRACU) has filed for a $150 million IPO to seek out a biotech deal with a team tied to one of the busiest names in SPACs recently. The new SPAC was filed as something of a pair with Quantumsphere Acquisition Corporation (NASDAQ:QUMSU), which was also underwritten by SPAC Advisory Partners...
FG Merger III Corp. has filed for a $150 million IPO to continue with the FG serial SPAC family with a larger vehicle focused on the financial services industry. The new SPAC is one of 16 SPACs that were filed in May and one of the four that overfunded its trust. FG Merger III is...
In our May 2025 corporate actions analysis, the SPAC market highlighted dependence on deadline extensions, with all votes involving sponsors seeking their third extension or beyond. While the total number of extension-related actions declined slightly from April, activity remained elevated compared to earlier months, reflecting the continued overhang from the 2021 SPAC wave. Extension Votes...
At the SPAC of Dawn The first week of June begins with just a pair of SPAC votes on the calendar, both of which are extensions, but this is a month that tends to host a fair amount of SPAC activity each year. Friday’s after-hours filing period may have provided a hint of this with...
Terms Tracker for the Week Ending May 30, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. May went out with a bang. Four more IPOs priced this week, bringing the monthly tally to 22 and the YTD total to 53. That...