Kensington Capital Acquisition Corp. V Will Redeem its Public Shares and Will not Consummate an Initial Business Combination

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 not found a suitable target.  Therefore, Kensington determined to proceed with the Liquidation.

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