Offering Summary

Offering Amount

US $130,000,000 + 15% over-allotment

Number of Units

13,000,000
(or up to 14,950,000 units if the underwriter’s over-allotment option is exercised in full)

Terms may change depending on market conditions

Unit Composition 1 ordinary share + 1 warrant to purchase 1 ordinary share at US$11.50 per full share
Warrant Structure US$11.50 exercise price, 5-year life
Warrant Redemption / Initial Proceeds in Trust 1 ordinary share + 1 warrant to purchase 1 ordinary share at US$11.50 per full share
Cash in Trust 101.25%
Private Placement 615,200 units (or up to 678,575 units if the underwriter’s over-allotment option is exercised in full), at US$10.00 per private unit
Management Promote 3,737,500 ordinary shares (including up to an aggregate of 487,500 ordinary shares subject to forfeiture to the extent that the underwriters’ over-allotment option is not exercised in full or in part)
SPAC Duration

9 months , subject to:

  1. If a letter of intent or a business combination proxy statement has been filed, the SPAC period will be automatically extended to 15 months
  2. KVAC has the option to extend the period twice by 3 months each time by depositing US$0.1 per public share to the trust account
Underwriters
  1. EF Hutton, division of Benchmark Investments
  2. Brookline Capital Markets, a division of Arcadia Securities, LLC