Kensington Capital Acquisition Corp. VI Closes $230M IPO with 23M Units
Kensington Capital Acquisition Corp. VI closed its $230 million IPO, issuing 23 million units—including 3 million from the over-allotment—at $10 per unit. Units trade on NYSE under KCAC.U, each comprising one Class A share and warrants exercisable at $11.50, as the SPAC pursues automotive, defense, energy and AI targets.
1. IPO Closing Details
Kensington Capital Acquisition Corp. VI closed its IPO on March 5, issuing 23 million units at $10 each, including a 3 million-unit over-allotment, raising $230 million in total.
2. Listing and Unit Structure
Units began trading on the NYSE under the symbol KCAC.U on March 4, each comprising one Class A ordinary share, one-quarter of a Class 1 redeemable warrant and three-quarters of a Class 2 redeemable warrant, with warrants exercisable at $11.50.
3. Acquisition Strategy
The SPAC intends to pursue a business combination in sectors where its management has expertise, specifically targeting opportunities in global automotive and automotive-related businesses, as well as defense, energy and artificial intelligence.
4. Leadership Team
The company is led by Chairman and CEO Justin Mirro, Vice Chairman and President Dieter Zetsche, COO Robert Remenar, CTO Simon Boag and CFO Daniel Huber, with independent directors including William Kassling, Anders Pettersson, Mitchell Quain, Donald Runkle and Matthew Simoncini.