Mergers & Acquisitions ·
CION portfolio company David’s Bridal signs non-binding LOI for $350M proposed merger of Pearl with K&F Growth Acquisition Corp. II
CICCCION Investment Corp
David’s Bridal, Inc., a portfolio company of CĪON Investment Corporation, has entered into a non-binding letter of intent to separate its AI-powered wedding planning and commerce platform, Pearl, from the parent business. The proposed transaction involves a business combination with K&F Growth Acquisition Corp. II, valuing Pearl at an enterprise value of approximately $350 million. The deal contemplates a $75 million PIPE financing, including a potential $25 million anchor investment from CION. Pearl is projected to generate over 100% revenue growth in 2027, exceeding $85 million, with EBITDA margins above 30%. The parties anticipate closing the transaction in the first half of 2027, subject to definitive agreements and shareholder approvals. CĪON Investment Corporation is a publicly listed business development company that generates income primarily through senior secured loans to U.S. middle-market companies.