K&F Growth Acquisition II plans merger with David's Bridal's Pearl
KFII•KFII•KFII•KFII•K&F Growth Acquisition II signed a non-binding letter of intent to combine with David's Bridal's Pearl wedding platform, taking it public. The proposed transaction values Pearl at about $350 million in pro forma enterprise value, assuming no shareholder redemptions.
K&F Growth Acquisition II signed a non-binding letter of intent to combine with David's Bridal's Pearl wedding platform and take it public. The proposed transaction values Pearl at approximately $350 million in pro forma enterprise value, assuming no shareholder redemptions.
The deal contemplates $75 million in PIPE financing, including a proposed $25 million anchor investment from David's Bridal's largest shareholder, CION Investment. David's Bridal would separate Pearl, which would own its brand and intellectual property, while the retailer would remain a material shareholder.
Closing is anticipated in the first half of 2027, and Pearl is expected to be debt-free following the transaction.
