KVSC - SPAC Khosla Ventures gains on report of deal to take Valo Health public

Justin Sullivan/Getty Images News SPAC Khosla Ventures (KVSA) rose 1.3% in premarket trading on a report that the company is taking Valo Health LLC public in a deal that values the combined companies at about $2.8B. Khosla and Boston-based Valo Health plan to use the proceeds assist Valo with developing its software platform and to help advance its preclinical and clinical drug pipeline, the WSJ reported, citing the companies. Valo Health, founded by Flagship Pioneering, announced in January that it closed a $190M Series B financing round, which brought its total capital raised to over $285M. Khosla Ventures launched four SPACs in February including  Khosla Ventures Acquisition III (KVSC), Khosla Ventures Acquisition II (KVSB), and Khosla Ventures Acquisition (KVSA).

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SPAC Khosla Ventures gains on report of deal to take Valo Health public