K2 Capital Acquisition, a blank check company targeting humanoid robotics and nuclear energy, raised $120 million by offering 12 million units at $10. Each unit consists of one share of common stock and one right to receive one-fifth (1/5) of an ordinary share upon the consummation of an initial business combination.
The New York, NY-based company raised 20% more in proceeds than anticipated, having originally filed in September to raise $100 million; its original filing included 1/8 rights, before it increased the rights component and accelerated the termination date in December.
K2 Capital Acquisition is led by CEO and Chairman Karan Thakur, who founded and currently serves as Managing Director of K2 Capital Advisors, a Vancouver-based family office. He is joined by CFO Glenn Worman, who serves as the CFO of SPACS Insight Digital Partners II (DYORU), Drugs Made in America Acquisition II (DMIIU), Drugs Made in America Acquisition (DMAAU), and previously served as CFO of Insight Acquisition before its merger with Alpha Modus (AMOD).
The SPAC plans to target humanoid robotics, physical artificial intelligence, and the advanced energy sector, with a specific focus on small modular nuclear reactors (SMRs).
K2 Capital Acquisition plans to list on the Nasdaq under the symbol KTWOU. D. Boral Capital acted as sole bookrunner on the deal.
