Kensington Capital Acquisition Corp. IV announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “KCAC.U” Wednesday, March 2.
The new SPAC intends to focus its search in the global automotive and automotive-related sector with a specific focus on the automotive aftermarket, emerging technologies and original equipment manufacturer and original equipment suppliers. Kensington Capital IV is led by CEO and Chairman Justin Mirro, Vice Chairman and President Dieter Zetsche, COO Robert Remenar, CTO Simon Boag, and CFO Daniel Huber.
Total SPAC deal count for 2022 year-to-date is now 48. This offering is expected to close on Friday, March 5.
UBS Investment Bank and Stifel are acting as the joint book-running managers for the offering and Baird is the lead manager of the offering with Drexel Hamilton as the co-manager. Hughes Hubbard & Reed LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. Marcum LLP serves as an auditor. Continental Stock Transfer & Trust Company is acting as trustee.