Kensington Capital Acquisition Corp. V Will Redeem its Public Shares and Will not Consummate an Initial Business Combination
Kensington Capital Acquisition Corp. V (NYSE: KCGI), a special purpose acquisition company, has announced its decision to dissolve and liquidate after failing to find a suitable target for an initial business combination. The company will redeem its public shares at approximately $11.19 per share, with the last trading day expected to be around August 16, 2024.
Key points:
- Public shares will be cancelled as of August 19, 2024
- Trust Account funds will be distributed to shareholders
- No redemption rights for warrants
- Initial shareholders not entitled to liquidating distributions for Class B shares
- NYSE delisting and SEC registration termination expected
This decision comes after careful consideration of the current SPAC market and an extensive search for a suitable target.
Kensington Capital Acquisition Corp. V (NYSE: KCGI), una società di acquisizione per scopi speciali, ha annunciato la sua decisione di dissolversi e liquidarsi dopo non essere riuscita a trovare un obiettivo adatto per una combinazione commerciale iniziale. La società riscatterà le sue azioni pubbliche a circa $11,19 per azione, con l'ultimo giorno di negoziazione previsto intorno al 16 agosto 2024.
Punti chiave:
- Le azioni pubbliche saranno annullate a partire dal 19 agosto 2024
- I fondi del conto fiduciario saranno distribuiti agli azionisti
- Nessun diritto di riscatto per i warrant
- Gli azionisti iniziali non hanno diritto a distribuzioni di liquidazione per le azioni di Classe B
- È prevista la delisting dalla NYSE e la cessazione della registrazione presso la SEC
Questa decisione arriva dopo un'attenta considerazione del mercato SPAC attuale e una ricerca approfondita di un obiettivo adeguato.
Kensington Capital Acquisition Corp. V (NYSE: KCGI), una empresa de adquisición con un propósito especial, ha anunciado su decisión de disolverse y liquidarse después de no poder encontrar un objetivo adecuado para una combinación empresarial inicial. La empresa reembolsará sus acciones públicas a aproximadamente $11,19 por acción, siendo el último día de negociación previsto alrededor del 16 de agosto de 2024.
Puntos clave:
- Las acciones públicas se cancelarán a partir del 19 de agosto de 2024
- Los fondos de la cuenta fiduciaria se distribuirán a los accionistas
- No hay derechos de reembolso para las opciones
- Los accionistas iniciales no tienen derecho a distribuciones de liquidación para acciones de Clase B
- Se espera la deslistación de la NYSE y la terminación del registro ante la SEC
Esta decisión se toma tras una cuidadosa consideración del actual mercado de SPAC y una búsqueda exhaustiva de un objetivo adecuado.
Kensington Capital Acquisition Corp. V (NYSE: KCGI), 특수 목적 인수 회사,가 초기 비즈니스 조합을 위한 적절한 대상을 찾지 못한 후 해산 및 청산하기로 결정했습니다. 회사는 주당 약 $11.19에 공개 주식을 환매할 것이며, 마지막 거래일은 2024년 8월 16일경으로 예상됩니다.
주요 사항:
- 공개 주식은 2024년 8월 19일부터 취소됩니다
- 신탁 계정의 자금은 주주에게 분배됩니다
- 워런트에 대한 환매 권리는 없습니다
- 초기 주주는 클래스 B 주식에 대한 청산 분배를 받을 자격이 없습니다
- NYSE 상장 폐지 및 SEC 등록 취소가 예상됩니다
이 결정은 현재 SPAC 시장에 대한 신중한 고려와 적절한 대상의 철저한 검색 후에 내려졌습니다.
Kensington Capital Acquisition Corp. V (NYSE: KCGI), une société d'acquisition à but spécial, a annoncé sa décision de se dissoudre et de se liquider après avoir échoué à trouver une cible appropriée pour une combinaison commerciale initiale. La société remboursera ses actions publiques à environ 11,19 $ par action, le dernier jour de négociation étant prévu aux alentours du 16 août 2024.
Points clés :
- Les actions publiques seront annulées à partir du 19 août 2024
- Les fonds du compte fiduciaire seront distribués aux actionnaires
- Aucun droit de rachat pour les bons d'émission
- Les actionnaires initiaux n'ont pas droit aux distributions de liquidation pour les actions de classe B
- Un retrait de la NYSE et une résiliation de l'enregistrement auprès de la SEC sont attendus
Cette décision survient après un examen attentif du marché SPAC actuel et une recherche approfondie d'une cible appropriée.
Kensington Capital Acquisition Corp. V (NYSE: KCGI), ein Unternehmen zur zweckgebundenen Akquisition, hat seine Entscheidung bekannt gegeben, sich aufzulösen und zu liquidieren, nachdem es nicht in der Lage war, ein geeignetes Ziel für eine ursprüngliche Geschäftskombination zu finden. Das Unternehmen wird seine öffentlichen Aktien zu etwa 11,19 $ pro Aktie zurückkaufen, wobei der letzte Handelstag voraussichtlich um den 16. August 2024 stattfinden wird.
Wichtige Punkte:
- Öffentliche Aktien werden ab dem 19. August 2024 storniert
- Die Gelder des Treuhandkontos werden an die Aktionäre verteilt
- Keine Rückgaberechte für Warrants
- Ursprüngliche Aktionäre haben keinen Anspruch auf Liquidationsverteilungen für Klasse B Aktien
- Delisting von der NYSE und Beendigung der SEC-Registrierung wird erwartet
Diese Entscheidung erfolgt nach sorgfältiger Prüfung des aktuellen SPAC-Marktes und einer umfangreichen Suche nach einem geeigneten Ziel.
- None.
- None.
As of the close of business on August 19, 2024, the Class A ordinary shares that were included in the units issued in Kensington's initial public offering (the "Public Shares") will be deemed cancelled, and each Public Share will represent only the right to receive a redemption amount equal to the aggregate amount then on deposit in the trust account established in connection with the Kensington's initial public offering (the "Trust Account"), including interest earned on the funds held in the Trust Account and not previously released to Kensington to pay Kensington's franchise and income taxes (less up to
The per-share redemption price for the Public Shares will be approximately
In order to provide for the disbursement of funds from the Trust Account, Kensington intends to instruct the trustee of the Trust Account to take all necessary actions to liquidate the securities held in the Trust Account. The proceeds of the Trust Account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the Trust Account by delivering their Public Shares to Continental Stock Transfer & Trust Company, Kensington's transfer agent. Beneficial owners of Public Shares held in "street name," however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed on or about August 19, 2024.
There will be no redemption rights or liquidating distributions with respect to Kensington's warrants.
Kensington's initial shareholders will not be entitled to liquidating distributions from the Trust Account as a result of their ownership of Class B ordinary shares. However, if Kensington's initial shareholders have acquired Public Shares, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares.
Kensington expects that NYSE will file a Form 25 with the United States Securities and Exchange Commission (the "SEC") to delist Kensington's securities. Kensington thereafter expects to file a Form 15 with the SEC to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
Forward-Looking Statements
This press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, Kensington's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in Kensington's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Kensington, including those set forth in the Risk Factors section of Kensington's registration statement and prospectus for Kensington's initial public offering filed with the SEC. Copies of such filings are available on the SEC's website, www.sec.gov. Kensington undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Dan Huber
dan@kensington-cap.com
703-674-6514
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SOURCE Kensington Capital Acquisition Corp. V
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