Kensington Capital Acquisition Corp. II announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “KCAC.U,” Friday, February 26.
The new company aims to combine with a middle-market automotive target with solid financial performance and visibility. Kensington II is led by Chairman and CEO Justin Mirro, Vice Chairman and President Robert Remenar, CTO Simon Boag and CFO and Secretary Daniel Huber.
Total SPAC deal count for 2021 year-to-date is now 185. This offering is expected to close on Tuesday, March 2.
UBS Securities LLC and Stifel, Nicolaus & Company, Incorporated are acting as the joint book running managers for the offering and Robert W. Baird & Co. Incorporated is acting as lead manager. Hughes Hubbard & Reed LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.