Khosla Ventures Acquisition II in an 8-K filing today included an investor presentation on its proposed merger with Nextdoor, a neighborhood networking platform.
Announced last month, the combined companies would have an expected pro forma equity value of approximately $4.3 billion.
If approved, upon closing Nextdoor will list on the Nasdaq under KIND.
Terms call for Nextdoor to receive the $416 million held in the SPAC’s trust, plus an upsized $270 million PIPE, excluding transaction expenses. Participants in the PIPE include funds and accounts advised by T. Rowe Price Associates, Baron Capital Group, Dragoneer, Soroban Capital, accounts advised by ARK Invest, and ION Asset Management, in addition to existing Nextdoor investors Tiger Global and Hedosophia. Nextdoor CEO Sarah Friar and Khosla Ventures affiliates each participated in the PIPE financing. Read more.