Khosla Ventures in an 8-K disclosed it has signed a non-biding letter of intent with an unnamed potential target. The SPAC was facing a March 8 deadline to close a deal, but with an LOI can automatically extend the termination date by three months.

Khosla in November 2021 terminated a deal with drug development company Valo Health, citing unfavorable market conditions in the biotechnology sphere.

The SPAC raised $300 million in a March 2021 ipo. Read more.

Source: Khosla Ventures Acquisition Inks Non-Binding LOI with Unnamed Suitor