Khosla Ventures Acquisition rises on deal to take Valo Health public

Khosla Ventures Acquisition Co

09/06/2021 14:23

** Shares of special purpose acquisition company (SPAC)
Khosla Ventures Acquisition Co  KVSA.O  up 1.37% at $10.36
premarket
    ** KVSA to take Boston-based Valo Health LLC public through
a merger; deal values combined company at about $2.8 billion
 urn:newsml:reuters.com:*:nL3N2NR2T0
    ** Valo Health is a biotech company that uses data analysis
and artificial intelligence to help in drug discovery and
development
    ** KVSA, backed by prominent venture capitalist Vinod
Khosla, raised $300 million through an initial public offering
(IPO) in March 
    ** SPACs are shell companies which raise funds through an
IPO to take a private company public through a merger at a later
date
    ** Shares up ~2% since KVSA's market debut in March this
year

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))