Khosla Ventures Acquisition II stockholders voted in favor of the proposed merger with neighborhood networking platform Nextdoor.
The deal is expected to close Nov. 5. Nextdoor Holdings shares are expected to trade on the NYSE begining Nov. 8 under KIND.
The transaction is expected to raise at least $385 million from KVSB trust proceeds (after giving effect to preliminary redemption elections, which may still be withdrawn), and a $270 million PIPE, resulting in gross proceeds of at least $655 million.
KVSB shares closed at $10.90 on Nov. 2. Stockholders who elected to redeem will receive approximately $10 per share.
Some shareholders evidently reversed course on their redemption decision. The SPAC pre-announced redemption figures yesterday, at the time stating that about 13% of shares outstanding had been redeemed though today noting the fugure was about 7.41%. Read more.
