Recent Updates — KCA-UN

Kensington Capital Acquisition Corp. VI and Nth Cycle, Inc. announced the confidential submission of a draft registration statement on Form S-4 with the SEC regarding their proposed business combination. The transaction implies a pro forma enterprise value for Nth Cycle of approximately $585 million, assuming no shareholder redemptions. Proceeds are expected to include up to $230 million from Kensington’s trust and a common stock PIPE of up to $100 million, with $40 million already committed. The combined entity will be named Nth Cycle Holdings, Inc., and its shares are expected to trade on the NYSE under the ticker symbol “NTH.” Kensington Capital Acquisition Corp. VI is a special purpose acquisition company (SPAC) focused on identifying and merging with private companies.