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.
Wen Acquisition Corp. (NASDAQ:WTENNU) has filed for a $261 million SPAC to hunt for a crypto or financial services target with a team staffed by former advisors to the FinTech SPAC series. The new SPAC is not overfunded and will have a 1/2 warrant in each unit with 24 months to initially complete a business...
April highlighted two defining trends in the SPAC market: an increased reliance on extended deadlines and a surge in announced transactions. Extension votes doubled compared to March, while the number of De-SPAC deals disclosed reached nine in April alone. These developments underscore a market that remains active but continues to rely on deadline extensions, largely...
D. Boral ARC Acquisition Corp. I has filed for a $250 million SPAC to be David Boral’s first in-house SPAC since the internal split at the firm formerly known as EF Hutton. Before that split, Boral and his former partner Joseph Rallo served as executive managers for the EF Hutton I SPAC, which ultimately combined...
At the SPAC of Dawn SPAC activity has continued on hot and heavy as three more new SPACs have filed S-1s for IPOs – one from each of the year’s most prolific underwriters: Cantor Fitzgerald, BTIG and Cohen & Company. Two more SPACs have are also set to join the party today having priced their...
Republic Digital Acquisition Corp. (NASDAQ:RDAGU) announced the pricing of its upsized $264 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RDAGU”, Thursday, May 1, 2025. The new SPAC aims to combine with a target company in the fintech, software or cryptocurrency industries with substantial free cash flow....