Brief: Valo Health And Khosla Ventures Acquisition Co. To Combine And Create Publicly Traded Company Focused On Transforming The Drug Discovery And Development Process

Khosla Ventures Acquisition Co

09/06/2021 13:23

June 9 (Reuters) - Khosla Ventures Acquisition Co  KVSA.O :
    * VALO HEALTH AND KHOSLA VENTURES ACQUISITION CO. TO COMBINE
AND
CREATE PUBLICLY TRADED COMPANY FOCUSED ON TRANSFORMING THE DRUG
DISCOVERY AND DEVELOPMENT PROCESS
    * KHOSLA VENTURES ACQUISITION CO - TRANSACTION REPRESENTS A
PRO
FORMA MARKET VALUE OF APPROXIMATELY $2.8 BILLION FOR COMBINED
COMPANY
    * KHOSLA VENTURES ACQUISITION CO - VALO ANTICIPATES PRO
FORMA CASH
BALANCE OF COMBINED COMPANY WILL BE ABOUT $750 MILLION BEFORE
EXPENSES
    * KHOSLA VENTURES ACQUISITION CO - DEAL INCLUDES $168.5
MILLION
FULLY COMMITTED PIPE FROM LEADING INSTITUTIONAL INVESTORS
    * KHOSLA VENTURES ACQUISITION - SAMIR KAUL TO JOIN VALO'S
BOARD OF
DIRECTORS FOLLOWING COMPLETION OF BUSINESS COMBINATION
    * KHOSLA VENTURES ACQUISITION CO - KVAC SPONSOR IS
SUPPORTING SPAC
WITH A $25 MILLION FORWARD PURCHASE AGREEMENT BACKSTOP AND KVAC
HAS NO WARRANTS

Source text for Eikon:  ID:nPn7grTj7a 
Further company coverage:  KVSA.O 

 ((Reuters.Briefs@thomsonreuters.com;))