KKR Acquisition Holdings I, a blank check company formed by KKR and former Gap CEO Glenn Murphy targeting the consumer sector, filed on Thursday with the SEC to raise up to $1.0 billion in an initial public offering.
The New York, NY-based company plans to raise $1.0 billion by offering 100 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, KKR Acquisition Holdings I would command a market value of $1.3 billion.
The company is led by CEO and Chairman Glenn Murphy, the founder and CEO of consumer-focused investment firm FIS Holdings and the former CEO of The Gap and Shoppers Drug Mart Corporation. The company plans to leverage its management's experience and target a business in the consumer or retail industries, focusing on key themes including digital transformation and e-commerce adoption, health and wellness, and value and premiumization, among others.
KKR Acquisition Holdings I was founded in 2021 and plans to list on the NYSE under the symbol KAHC.U. Citi is the sole bookrunner on the deal.
