Welcome to our dedicated page for Kingswood Acquisition news (Ticker: KWACU), a resource for investors and traders seeking the latest updates and insights on Kingswood Acquisition stock.
Kingswood Acquisition Corp. (NYSE: KWAC.U) aims to create the first vertically integrated global wealth and investment management business listed on the NYSE for underserved retail mass affluent and private client investors. Recently merged with Wentworth Management Services LLC to form Binah Capital Group, a leading independent wealth management enterprise now listed on NASDAQ. Binah Capital has a pro forma enterprise value of $208 million, approximately 1,900 employees in the financial services industries, and around $23 billion in assets under management. The leadership team, led by CEO Craig Gould and CFO David Shane, will focus on growth and value creation for financial advisors, clients, and shareholders, leveraging their broker-dealer platform across all 50 states to support financial advisors' business growth. The newly formed entity is well-positioned to drive value for all stakeholders and engage in strategic M&A activity to foster growth and opportunities.
Kingswood Acquisition Corp. (NYSE: KWAC.U) announced the appointment of David Hudd as Executive Director and General Counsel, effective February 19, 2022. Hudd, who has been a board member since November 2020, brings 40 years of global legal expertise to the role. His extensive background includes serving as Deputy CEO at Hogan Lovells and significant investment banking experience. The leadership change aims to leverage Hudd's industry knowledge as KWAC seeks to capitalize on market opportunities in the financial services sector.
Kingswood Acquisition Corp. (NYSE: KWAC.U, KWAC) received notice from the NYSE on May 25, 2021, regarding non-compliance with listing requirements due to a delayed 10-Q filing for Q1 2021. The Company had previously submitted a Notification of Late Filing on May 14, 2021, citing the need for additional time to prepare financial statements. While this notice does not affect the immediate listing of the Company's securities, it must regain compliance by November 24, 2021. The Company plans to file the Report by June 12, 2021.
Kingswood Acquisition Corp. has announced that holders of its initial public offering units can now separately trade shares of Class A common stock and warrants. This change takes effect on February 17, 2021. The units, originally sold on November 24, 2020, will continue to trade under the symbol KWAC.U, while the Class A common stock and warrants will trade under the symbols KWAC and KWAC WS, respectively. Interested holders must contact their brokers to facilitate the separation. The firm aims to pursue business combinations in the financial services sector.
FAQ
What is Kingswood Acquisition Corp.'s main goal?
What is Binah Capital Group?
What is the pro forma enterprise value of Binah Capital Group?
Who leads Binah Capital Group?
How will Binah Capital Group support financial advisors?
What opportunities are available for shareholders of Kingswood Acquisition Corp.?
Who are the key figures involved in the transaction?
What is the relationship between Kingswood U.S. and Kingswood Acquisition Corp.?
What legal advisors were involved in the transaction?
Where is Binah Capital Group listed?
What are the forward-looking statements related to Kingswood Acquisition Corp.?
Who served as the financial advisors for the merger?
