UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 3.02. Unregistered Sales of Equity Securities.
The information set forth in Item 8.01 below is hereby incorporated by reference in this Item 3.02.
Item 8.01. Other Events.
On February 15, 2023, Kensington Capital Acquisition Corp. V (the “Company”) consummated the private placement of 3,680,000 warrants at a price of $0.75 per warrant (the “New Warrants”), generating total proceeds of $2,760,000. The New Warrants were purchased by Kensington Capital Sponsor V LLC (the “Sponsor”) and are substantially similar to the warrants issued to the Sponsor at the time of the Company’s initial public offering in August 2021 (the “IPO”). The New Warrants have been issued pursuant to, and are governed by, the Warrant Agreement that the Company entered into at the time of the IPO.
The proceeds received by the Company in connection with the issuance of the New Warrants have been deposited in the trust account (the “Trust Account”) established at the time of the IPO. In accordance with the Company’s Amended and Restated Memorandum and Articles of Association, the deposit of such proceeds into the Trust Account on or prior to February 17, 2023 will extend by six months the time the Company will have to consummate an initial business combination.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: February 15, 2023
KENSINGTON CAPITAL ACQUISITION CORP. V | ||
By: | /s/ Daniel Huber | |
Name: | Daniel Huber | |
Title: | Chief Financial Officer |
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