Kensington Capital Acquisition VI, a blank check company led by the founder of Kensington Capital targeting the auto industry, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Westbury, NY-based company plans to raise $200 million by offering 20 million units at a price of $10. Each unit contains one share of common stock, one-quarter of one Class 1 warrant, and three-quarters of one Class 2 warrant. Each whole Class 1 and Class 2 warrant is exercisable at $11.50.
The SPAC is led by the CEO and Chairman Justin Mirro, the founder of automotive-focused investment firm Kensington Capital, where he currently serves as President. Mirro also has experience from General Motors, Toyota, and several investment banks. He is joined by CFO Daniel Huber, the Chairman of Munro Defense and the former Director of Corporate Development and M&A at Conduent. Kensington Capital Acquisition VI plans to target the automotive sector, including battery tech, electric powertrains, automotive software, autonomous driving tech, as well as robotics, eVTOLs, and drones.
Management's previous SPACs include Kensington Capital Acquisition V (KCGI), which liquidated in August 2024; Kensington Capital IV, which merged with lithium battery manufacturer Amprius Technologies (AMPX; +6% from $10 IPO price) in September 2022; Kensington Capital II, which merged with Wallbox (WBX; -75%) in October 2021, and Kensington Capital Acquisition, which merged with EV battery maker QuantumScape (QS; -22%) in November 2020.
The Westbury, NY-based company was founded in 2025 and plans to list on the NYSE under the symbol KCAC.U. Cohen & Company Securities and Drexel Hamilton are the joint bookrunners on the deal.
