Recent Updates — KFIIR

K&F Growth Acquisition Corp. II and David’s Bridal entered into a non-binding letter of intent for a proposed business combination that would separate Pearl, the wedding planning, media and commerce division of David’s Bridal, into a standalone public company. The transaction values Pearl at a pro forma enterprise value of approximately $350 million and contemplates a $75 million PIPE financing, including a $25 million anchor investment from CION Investment Corporation. The parties anticipate closing in the first half of 2027, subject to due diligence, definitive agreements, shareholder approvals, and regulatory clearances. K&F Growth Acquisition Corp. II is a special purpose acquisition company.