KINS Technology Group Inc. (KINZ.U) Prices Upsized $240M IPO

KINS Technology Group Inc. announced the pricing of its upsized $240 million IPO this morning and its units are expected to begin trading on the Nasdaq under the symbol “KINZ.U” today, Tuesday, December 15.

The new company aims to combine with a company that has a “differentiated, transformational technology with a focus on next generation network and communications technologies”. KINS Technology Group is led by Chairman, CEO, and CFO Khurram Sheikh. Eric Zimits will be Secretary and Chief Corporate Development Officer.

Total SPAC deal count for 2020 year-to-date is now 233 with $78.3 billion in gross proceeds raised. This offering is expected to close on Thursday, December 18.

UBS Investment Bank, Stifel, and BTIG are acting as the joint book-running managers, JMP Securities is acting as co-lead manager, and Maxim Group and Academy Securities are acting as co-managers for the offering. Skadden, Arps, Slate, Meagher & Flom LLP is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.