Kochav Defense Acquisition Corp. Announces Completion of $253 Million IPO
Rhea-AI Summary
Kochav Defense Acquisition Corp. (NASDAQ: KCHVU) has successfully completed its initial public offering (IPO), raising $253 million through the sale of 25.3 million units at $10.00 per unit. Each unit comprises one Class A ordinary share and one right to receive 1/7 of a Class A ordinary share upon business combination completion.
The company also secured a concurrent private placement of 524,050 units at $10.00 per unit, generating additional proceeds of $5.24 million. Trading began on May 28, 2025, with the units listed on Nasdaq under "KCHVU". Once separate trading begins, shares and rights will trade under "KCHV" and "KCHVR" respectively.
As a blank check company, Kochav Defense aims to pursue business combinations in the defense and aerospace industries. The management team is led by CEO Menny Shalom and CFO Asaf Yarkoni, with SPAC Advisory Partners LLC serving as the sole book-running manager.
Positive
- Successful IPO raising $253 million, with full exercise of over-allotment option
- Additional $5.24 million raised through private placement
- Management team with industry expertise focusing on defense and aerospace sectors
- Units trading on major exchange (Nasdaq Global Market)
Negative
- No specific acquisition target identified yet
- Typical SPAC risks including potential dilution upon business combination
- Time-limited structure to complete a business combination
- Investment depends entirely on management's ability to identify and execute a suitable merger
News Market Reaction – KCHVU
On the day this news was published, KCHVU declined 0.05%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
New York, NY, May 29, 2025 (GLOBE NEWSWIRE) -- Kochav Defense Acquisition Corp. (NASDAQ: KCHVU) (the “Company”) today announced the closing of its initial public offering of 25,300,000 units, at a price of
Concurrently with the closing of the initial public offering, the Company closed on a private placement of 524,050 units at a price of
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry or geographical location, it intends to focus on the defense and aerospace industries. The Company’s management team is led by Menny Shalom, its Chief Executive Officer and a director, and Asaf Yarkoni, its Chief Financial Officer. Doron Dovrat, Yair Ramati and Gill Zaphrir are independent directors.
SPAC Advisory Partners LLC, a division of Kingswood Capital Partners, LLC, acted as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP, and Appleby (Cayman) Ltd., served as legal counsel to the Company, and Loeb & Loeb LLP served as legal counsel to the underwriters.
A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on May 27, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained, when available, by contacting Kingswood Capital Partners, LLC, 126 East 56th Street, Suite 22S, New York, NY 10022, or by calling 212-487-1080 or emailing Syndicate@kingswoodUS.com. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds and search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and final prospectus for the offering filed with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
Contact Information:
Kochav Defense Acquisition Corp.
Menny Shalom
ms@kochav.co
FAQ
What is the IPO price and total amount raised by Kochav Defense Acquisition Corp (KCHVU)?
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What do KCHVU units consist of?
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