KL Acquisition Corp Announces Closing of its Initial Public Offering and Full Exercise of Underwriter’s Over-Allotment Option
January 12, 2021 – New York, NY – KL Acquisition Corp (NASDAQ: KLAQU) (the “Company”) today announced the completion of its initial public offering of 28,750,000 units at a price of $10.00 per unit, which includes 3,750,000 units issued pursuant to the full exercise of the underwriter’s over-allotment option, for aggregate gross proceeds to the Company of $287,500,000. The Company’s units began trading on the Nasdaq Capital Market (“Nasdaq”) under the symbol “KLAQU” on January 8, 2021. Each unit issued in the offering consists of one share of the Company’s Class A common stock and one-third of one warrant, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “KLAQ” and “KLAQW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies in the healthcare or healthcare-related sectors. The Company is led by Chief Executive Officer and Chairman of the Board of Directors, Doug Logigian. The sponsor of the Company is KL Sponsor LLC, an affiliate of Kennedy Lewis Management LP, a leading alternative asset manager with significant investment experience and dedicated healthcare expertise with a focus on life sciences.
Goldman Sachs & Co. LLC is acting as sole book-running manager for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn: Prospectus Department, by telephone at 866-471-2526 or by emailing firstname.lastname@example.org.
A registration statement relating to these securities has been filed with, and was declared effective by, the Securities and Exchange Commission (“SEC”) on January 7, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and final prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Chief Executive Officer
KL Acquisition Corp
July 15, 2021 – New York, NY – Kennedy Lewis Investment Management LLC (“Kennedy Lewis”), a leading opportunistic credit manager, and York Capital Management Global Advisors, LLC (“York”), a global private investment firm, today announced the closing of the previously announced strategic partnership, Generate Advisors, LLC (“Generate Advisors”). About Kennedy Lewis Kennedy Lewis is an opportunistic credit manager founded in 2017 by David K. Chene and Darren L. Richman with approximately $7 billion under management across private funds and CLOs. Kennedy Lewis’ private funds primarily focus on middle-market companies facing disruption, whether it be cyclical, secular or regulatory related. The firm…
June 30, 2021 – Redmond, WA – EchoNous, the leader in portable AI-guided ultrasound tools and software, announced it has raised $60 million in funding from Kennedy Lewis Investment Management (“Kennedy Lewis”), a leading opportunistic credit manager with a strong track record of supporting innovative life sciences companies. The investment from Kennedy Lewis combines senior secured debt and equity and builds on the support of KKR, which has been EchoNous’ principal investor since 2015. Proceeds from the financing will help fuel the commercial launch of Kosmos, EchoNous’ flagship device. Kosmos is the first AI-guided point-of-care ultrasound (POCUS) system to provide diagnostic-quality imaging on…
June 28, 2021 – New York – Kennedy Lewis Investment Management LLC (“Kennedy Lewis”), a leading opportunistic credit manager, has hired David Valiaveedan and Brieanne Nikrandt as Managing Directors to lead the firm’s homebuilder financing strategy. Mr. Valiaveedan and Ms. Nikrandt joined Kennedy Lewis from DW Partners where they led residential investments since 2015. Mr. Valiaveedan has over 30 years of experience in real estate focused on the structuring and placement of debt and equity for public and private companies across the homebuilding, multifamily, office and hotel segments. While at DW Partners, Mr. Valiaveedan formed and led its homebuilder and land development investment…