Khosla Ventures Acquisition, a blank check company formed by Khosla Ventures, filed on Friday with the SEC to raise up to $300 million in an initial public offering. The offering does not contain warrants.
At the proposed deal size, the SPAC would command a market value of $359 million, which excludes up to 5 million shares that the sponsor may receive after completing the de-SPAC and hitting certain performance requirements.
The SPAC's management team consists of founder Vinod Khosla, who is the founder of Khosla Ventures; CEO Samir Kaul, founding partner and Managing Director of Khosla; and CFO/COO Peter Buckland, Partner, Managing Director and COO of Khosla. The three managers have similar roles at Khosla's other two blank check companies, which also plan to list in the 1Q21.
The SPAC's directors include the President of the Rockefeller Foundation, the CEO of QuantumScape (QS), the Chief Legal Officer of Uber, and the CEO of Oscar, among others.
The Menlo Park, CA-based company was founded in 2021 and plans to list on the Nasdaq under the symbol KVSA. Khosla Ventures Acquisition filed confidentially on January 27, 2021. Goldman Sachs and Piper Sandler are the joint bookrunners on the deal.
