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Kochav Defense Acquisition Corp. Announces Completion of $253 Million IPO
Globenewswireยท2025-05-29 15:42

Group 1 - The company, Kochav Defense Acquisition Corp., successfully closed its initial public offering (IPO) of 25,300,000 units at a price of $10.00 per unit, generating gross proceeds of $253 million [1] - The IPO included 3,300,000 units from the underwriters' over-allotment option, and the units began trading on Nasdaq under the symbol "KCHVU" on May 28, 2025 [1] - Each unit consists of one Class A ordinary share and one right to receive one-seventh (1/7) of a Class A ordinary share upon the completion of the company's initial business combination [1] Group 2 - Concurrently with the IPO, the company closed a private placement of 524,050 units at the same price of $10.00 per unit, resulting in gross proceeds of $5.24 million [2] - The private placement units are identical to those sold in the IPO, with certain limited exceptions [2] Group 3 - The company is a blank check company formed to pursue mergers, amalgamations, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations, primarily focusing on the defense and aerospace industries [3] - The management team includes Menny Shalom as CEO and Asaf Yarkoni as CFO, along with independent directors Doron Dovrat, Yair Ramati, and Gill Zaphrir [3] Group 4 - SPAC Advisory Partners LLC acted as the sole book-running manager for the offering, with legal counsel provided by Ellenoff Grossman & Schole LLP and Appleby (Cayman) Ltd. [4]