David’s Bridal plans Pearl separation and $350 million business combination with K&F Growth Acquisition Corp. II
KFII•David’s Bridal plans to separate Pearl and signed a letter of intent for a proposed business combination with K&F Growth Acquisition Corp. II. The proposed deal values Pearl at $350 million in enterprise value and includes a $75 million PIPE with a $25 million anchor investment.
1. Proposed combination
David’s Bridal plans to separate Pearl as an independent digital wedding planning, media and commerce platform. Pearl and K&F Growth Acquisition Corp. II signed a letter of intent for a proposed business combination that values Pearl at $350 million in enterprise value and includes a $75 million PIPE with a $25 million anchor investment; Pearl would own the David’s Bridal brand and intellectual property after the separation.
