Khosla Ventures Acquisition Co. II (NASDAQ:KVSB) secured shareholder approval of its combination with neighborhood social media platform Nextdoor after pre-announcing its redemption amounts yesterday.
KVSB reported that the transaction is expected to raise approximately $655 million in gross proceeds. Approximately $385 million will be from its trust proceeds after giving effect to preliminary redemption elections, representing approximately 7.41% of the trust account, and $270 million will be from a fully committed PIPE. KVSB shares closed at $10.90 per share today, and stockholders who elected to redeem will receive approximately $10.00 per share.
The deadline for KVSB stockholders to withdraw any election to have their shares redeemed in connection with the business combination will be 5:00 p.m. Eastern Time on Thursday, November 4.
The deal is expected to close on Friday, November 5 and KVSB will change its name to “Nextdoor Holdings, Inc.” The combined company’s shares are expected to trade on the New York Stock Exchange under the ticker symbol “KIND” on Monday, November 8.
Khosla Ventures II initially announced its $3.5 billion combination on July 6. San Francisco-based Nextdoor provides a social network for communities to connect with their fellow neighbors to share information on neighborhood events as well as concern about local problems
ADVISORS
- Morgan Stanley & Co. LLC and Evercore Group L.L.C. are serving as joint-lead financial advisors to Nextdoor and placement agents to institutional investors for the PIPE to KVSB.
- Goldman Sachs & Co. LLC is serving as exclusive financial advisor to KVSB.
- Fenwick & West LLP is serving as legal counsel to Nextdoor.
- Latham & Watkins LLP is acting as legal counsel to KVSB.
- Simpson Thacher & Bartlett LLP is acting as legal counsel to Morgan Stanley and Evercore as placement agents to institutional investors to KVSB
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....