Khosla Ventures Acquisition announced it will redeem shares and shut down effective Dec. 11 because it will not will not complete a business combination by tomorrow’s deadline.
Khosla said the per-share redemption price will be approximately $10.75.
The SPAC raised $300 million in a February 2021 IPO, although redemptions since then have reduced the trust as of August to about 12% of its original amount. The Nasdaq issued a delisting warning to the SPAC that month regarding its low market cap.
Sister SPAC Khosla Ventures III redeemed stock and wound up in March after raising $500 million in a March 2021 IPO two years ago.
Founder Vinod Khosla is an entrepreneur, investor and technologist. In 2004, he founded VC firm Khosla Ventures. Read more.
Source: Khosla Ventures Acquisition Plans to Redeem Stock and Dissolve