Nextdoor: Promising SPAC, But Too Rich Here
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Update - Nov. 2
The business combination vote was today with expected limited redemptions. The stock should begin trading on the NYSE on Nov. 5 under the ticker symbol "KIND".
-A Special Meeting of KVSB Stockholders is scheduled to be held on November 2, 2021 at 11:00 a.m. ET; the business combination is expected to close on November 5, 2021, subject to final vote.
-The transaction is expected to raise at least $363.3 million from KVSB trust proceeds (after giving effect to preliminary redemption elections, which may be withdrawn, representing approximately 13% of the trust account), and $270 million from a fully committed common stock private placement (PIPE), resulting in total gross proceeds of at least $633.3 million.