QS - Kensington Capital Acquisition Corp. II to start trading after first SPAC buys QuantumScape at $3.3B valuation

Auto-related SPAC Kensington Capital Acquisition Corp. II (KCACU) is set to begin trading Friday after raising $200M through an IPO just months after Kensington Capital Acquisition Corp. I bought electric-vehicle battery maker QuantumScape (QS) at a $3.3B valuation.KCACU sold 20M investing units at $10 apiece. Each unit consists of one Class A share and 0.25 warrants entitling investors to buy a second share at $11.50 in the future.Management also granted underwriters the option of buying as many as 3M more units for overallotments, potentially raising an additional $3M.The units will list on the New York Stock Exchange. Shares and warrants will also eventually trade separately under the symbols "KCAC" and "KCACWS," respectively.KCACU management said in a statement that it intends to focus M&A efforts on companies in the North American automotive or auto-related sector. The deal comes some three months after sister SPAC Kensington Capital Acquisition Corp. I closed a deal to buy

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Kensington Capital Acquisition Corp. II to start trading after first SPAC buys QuantumScape at $3.3B valuation