Kensington Capital Acquisition Prices $200 Million IPO

MT Newswires Live

Mar 04

Kensington Capital Acquisition said Tuesday it has priced its initial public offering of 20 million units at $10 per unit.

Each unit consists of 1 class A common share, 0.25 class 1 redeemable warrant, and 0.75 class 2 redeemable warrant, with a whole warrant exercisable for a class A common share at $11.50.

Underwriters have been granted a 45-day option to purchase up to 3 million additional units.

The IPO is expected to close Thursday and the units are set to start trading on the New York Stock Exchange under the ticker "KCAC.U" from Wednesday, the company said.

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