WESTBURY, N.Y., Aug. 1, 2024 /PRNewswire/ -- Kensington Capital Acquisition Corp. V (NYSE:KCGI) ("Kensington"), a publicly-traded special purpose acquisition company, today announced that it will be unable to consummate an initial business combination and intends to dissolve and liquidate in accordance with the provisions of its Amended and Restated Memorandum and Articles of Association, as amended ("Liquidation"). As previously disclosed, Kensington had extended the date by which Kensington had to consummate a business combination from August 17, 2023 to August 17, 2024. After careful consideration of the current SPAC market and after having completed an extensive search, Kensington has no

WESTBURY, N.Y., July 28, 2023 /PRNewswire/ -- Kensington Capital Acquisition Corp. V (NYSE:KCGI) (the "Company") announced that on July 28, 2023 it filed a definitive proxy statement (the "Definitive Proxy Statement") for the solicitation of proxies in connection with an extraordinary general meeting (the "Extraordinary General Meeting") of the Company's shareholders to be held on August 15, 2023 to consider and vote on, among other proposals, an amendment to the Company's Amended and Restated Memorandum and Articles of Association, to extend the date by which the Company must consummate a business combination from August 17, 2023 to August 17, 2024 (such proposal, the "Extension Amendment P

Kensington Capital Acquisition Corp V (NYSE:KCGI) and Arrival (NASDAQ:ARVL) have agreed to terminate the business combination agreement signed April 6, 2023Following the termination of the agreement, Arrival intends to pursue alternative fundraising opportunities.Arrival has engaged TD Cowen to assist in developing other strategic opportunities. LUXEMBOURG and WESTBURY, N.Y., July 03, 2023 (GLOBE NEWSWIRE) -- Arrival (NASDAQ:ARVL) ("Arrival" or the "Company"), inventor of a unique new method of design and production of electric vehicles ("EVs"), and Kensington Capital Acquisition Corp. V ("Kensington") (NYSE:KCGI), a special purpose acquisition company, today announced that both companies

Arrival (NASDAQ:ARVL) has entered into a business combination agreement with Kensington Capital Acquisition Corp. V (NYSE:KCGI).Upon closing, the combined company's ordinary shares are expected to be listed on Nasdaq under the ticker symbol "ARVL."Arrival is developing an innovative Class 4 ("XL") Van that the Company believes offers a high-quality user experience and lower cost of ownership for commercial operators.Arrival's purpose-built XL Van targets the underserved last-mile delivery market in the U.S.Kensington has $283 million of cash held in trust (pre-redemptions) to contribute to the combined business. LUXEMBOURG and WESTBURY, N.Y., April 06, 2023 (GLOBE NEWSWIRE) -- Arrival (NA

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8-K - Kensington Capital Acquisition Corp. V (0001865407) (Filer)

8-K - Kensington Capital Acquisition Corp. V (0001865407) (Filer)

8-K - Kensington Capital Acquisition Corp. V (0001865407) (Filer)

Arrival (NASDAQ:ARVL) reportedly expects its recently disclosed merger deal and significant subsidies from the US Inflation Reduction Act (IRA) to drive its business growth. Last month, the company announced a merger with Kensington Capital Acquisition Corp V (NYSE:KCGI). The merger will allow Arrival access to up to $283 million of cash to build a factory in Charlotte, North Carolina, to develop the company's XL van.  The class 4, or medium-duty, delivery van qualifies for IRA tax (effective August 2022) credits up to $40,000, significantly above the $7,500 offered for smaller electric vans, per Reuters.  The British EV start-up company aims to begin producing its medium-duty XL Van b

Electric vehicle (EV) startup Arrival SA (NASDAQ:ARVL) is eyeing a merger with Kensington Capital Acquisition Corp V (NYSE:KCGI). What Happened: Facilitating a successful deal close with Kensington later this year is “top priority” for Arrival, the company said on Monday. “A normal merger process does take anywhere from, I would call it three months or more,” said CFO John Wozniak. “And we’re just going to work as hard as we can to get this closed as quickly as we can.” Giving a rough timeline, Wozniak said that the SEC review will take a couple of months, and 30 days from the day of review completion, a shareholder vote will be conducted. Why It Matters: The proposed deal wit

Amprius Technologies Inc has agreed to merge with a special-purpose acquisition company (SPAC)that values the company at about $1.3 billion and would take it public, Wall Street Journal reported. Amprius makes batteries that it says are more powerful than conventional lithium-ion cells because they use energy-dense silicon in the battery’s anode instead of graphite, the traditional material.  The company sells them to customers such as Airbus SE (OTC:EADSY) and the U.S. Army to power electric aircraft and drones and says it can also be used for electric cars. Amprius is combining with the transportation-focused SPAC Kensington Capital Acquisition Corp IV (NYSE:KCGI) in a deal that will