KKR - KKR and Lululemon Chairman Glenn Murphy team up on SPAC IPO to raise more than $1B
Investment giant KKR & Co. (KKR) is joining Wall Street’s SPAC IPO craze in a big way, teaming up with Lululemon Athletica Chairman Glenn Murphy to raise as much as $1.15 billion for special purpose acquisition company. KKR and Murphy wrote in an S-1 IPO filing with the U.S. Securities and Exchange Commission that they plan to sell as many as 100 million investing units at $10 each. They’ll also offer underwriters the option to purchase as many as 15 million additional units for overallotments. Each unit will consist of one Class A share and 0.33 warrants to buy an additional share in future at $11.50. All told, the offering could raise as much as $1.15 billion for the blank-check company to make acquisitions if underwriters exercise all overallotment options. KKR and Murphy also plan to invest as much as an additional $26 million through a private placement to buy
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KKR and Lululemon Chairman Glenn Murphy team up on SPAC IPO to raise more than $1B