Kensington Completes $276 Million IPO

Industrial
Technology & Services

Kensington IPO


Summary

Kensington Capital Acquisition Corp. V (“Kensington” or the “Company”) (NYSE: KCGI.U), a special purpose acquisition company, recently completed an initial public offering of 27,600,000 units, including the exercise in full of the underwriters' overallotment option, at a price of $10.00 per unit, generating gross proceeds of approximately $276 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 American and European industrials sector. The Company is led by Chairman and Chief Executive Officer, Justin Mirro, Vice Chairman and President, John Arney, Chief Financial Officer and Secretary, Daniel Huber, and Chief Technology Officer, Peter Goode. The Company's independent directors include Anders Pettersson, Mitchell Quain, Mark Robertshaw, Nickolas Vande Steeg and William E. Kassling.
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Industrial
Technology & Services

Kensington IPO

Date
August 2021
Company
Kensington Capital Acquisition Corp. V
Transaction
Equity Capital Markets
Sectors
Industrial
Technology & Services
Verticals
Aerospace, Defense & Government
Building & Construction Products
Distribution
Highly Engineered Components
Industrial Safety & Security
Machinery & Equipment
Packaging & Containers
Process Flow Control
Test, Measurement & Automation
Testing, Inspection, Certification & Compliance ("TICC")
Thermal Technology
Vehicle Supply
Water & Filtration
Application Software
Asset Tracking & Mobile Resource Management
Facility, Industrial, Rental & Environmental ("FIRE") Services
Government & Defense
Target Location
North America

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