SPAC Kensington Completes $230 Million IPO

Industrial
Technology & Services

Kensington IPO


Summary

Kensington Capital Acquisition Corp. II (“Kensington” or the “Company”) (NYSE: KCAC.U), a special purpose acquisition company, recently completed an initial public offering of 23,000,000 units, including the exercise in full of the underwriters' overallotment option, at a price of $10.00 per unit, generating gross proceeds of approximately $230 million. The Company intends to use the net proceeds from this offering to effect a future business combination.

Baird served as a lead manager on this offering.

About

Kensington is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (“business combination”). While the Company may pursue an initial business combination target in any industry or sector, it intends to focus its search on companies in the North America automotive and automotive-related sector. The Company is led by Chairman and Chief Executive Officer, Justin Mirro, Vice Chairman and President, Robert Remenar, Chief Financial Officer and Secretary, Daniel Huber, and Chief Technology Officer, Simon Boag. The Company's independent directors include Thomas LaSorda, Anders Pettersson, Mitchell Quain, Donald Runkle and Matthew Simoncini.
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Industrial
Technology & Services

Kensington IPO

Date
March 2021
Company
Kensington Capital Acquisition Corp. II
Transaction
Equity Capital Markets
Sectors
Industrial
Technology & Services
Verticals
Vehicle Supply
Target Location
North America

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