KVSC - SPAC Khosla Ventures and and Valo Health terminate $2.8B merger

SPAC Khosla Ventures Acquisition (NASDAQ:KVSA) and Valo Health agreed to terminate a $2.8B business combination. KVSA gained 1.3%.  The SPAC and its target cited current market conditions, particularly in the biotechnology area, according to a statement yesterday. SPAC Khosla Ventures announced in early June a deal to take Valo Health public. Khosla Ventures launched four SPACs in February including Khosla Ventures Acquisition III (NASDAQ:KVSC) and Khosla Ventures Acquisition (KVSA).  "Valo Health is a strong company and we wish them continued success as they move forward on a very solid plan," Samir Kaul, founding partner and managing member of  Khosla Ventures said in the statement. "We will continue to look for other high-impact targets across a range of industries to deliver maximum shareholder value." Hyperlocal social-media network Nextdoor went public earlier this month through another Khosla SPAC transaction.

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SPAC Khosla Ventures and and Valo Health terminate $2.8B merger