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K&F Growth Acquisition Corp. II, a special purpose acquisition company (SPAC), announced on Monday that it has finalized its initial public offering (IPO) and a concurrent private placement, raising a total of $296,727,270.
The IPO, which concluded on February 6, 2025, saw the company issuing 28,750,000 units, including an over-allotment option fully exercised by the underwriters, at $10.00 per unit. This resulted in gross proceeds of $287,500,000. Each unit comprises one Class A ordinary share and one right, with each right entitling the holder to receive one-fifteenth of a Class A ordinary share upon the consummation of the company’s initial business combination. InvestingPro analysis shows the stock trades with notably low price volatility and is currently trading near its 52-week high of $10.03.
In tandem with the IPO, K&F Growth Acquisition Corp. II carried out a private sale of 922,727 units at the same price per unit, generating additional gross proceeds of $9,227,270. The private placement units were purchased by the company’s sponsor, K&F Growth Acquisition LLC II, and BTIG, LLC.
The combined net proceeds from the IPO and the private sale, including $10,062,500 from the underwriter’s deferred discount, were deposited into a trust account maintained by Continental Stock Transfer & Trust Company, totaling $288,937,500 or $10.05 per unit.
An audited balance sheet dated February 6, 2025, has been made public, reflecting the receipt of the proceeds from both the IPO and the private placement. This financial statement has been included as Exhibit 99.1 in the company’s current report on Form 8-K filed with the Securities and Exchange Commission.
K&F Growth Acquisition Corp. II is classified under the "Blank Checks" industry and is based in Manhattan Beach, California. The company’s securities, including units (NASDAQ:KFIIU), Class A ordinary shares (NASDAQ:KFII), and rights (NASDAQ:KFIIR), are listed on The Nasdaq Stock Market LLC.
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