Kensington Capital Acquisition Corp. V announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the New York Stock Exchange under the symbol “KCGI.U” Friday, August 13.
The new SPAC intends to combine with an industrials-focused business that has an enterprise value greater than $1 billion and demonstrates significant growth potential. Kensington Capital V is led by CEO and Chairman Justin Mirro, VP and President John Arney, CFO Daniel Huber, CTO Peter Goode, and Head of Business Development Julian Ameler.
Total SPAC deal count for 2021 year-to-date is now 410. This offering is expected to close on Tuesday, August 17.
UBS Investment Bank and Stifel are serving as the joint book-running managers on the offering with Drexel Hamilton as the co-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.