Kensington Capital Acquisition Corp. IV Announces Closing of $230,000,000 Initial Public Offering

WESTBURY, N.Y., March 4, 2022 /PRNewswire/ -- Kensington Capital Acquisition Corp. IV (the "Company") today announced that it has closed its initial public offering of 23,000,000 units, including 3,000,000 units issued pursuant to the full exercise of the underwriters' over-allotment option, at a price of $10.00 per unit.  The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.  While the Company may pursue an initial business combination target in any industry or sector, it intends to focus its search on companies in the global automotive and automotive-related sector.  The Company is led by Chairman and Chief Executive Officer, Justin Mirro, Vice Chairman and President, Dieter Zetsche, Chief Operating Officer, Robert Remenar, Chief Technology Officer, Simon Boag and Chief Financial Officer, Daniel Huber.  The Company's independent directors include Thomas LaSorda, Nicole Nason, Anders Pettersson, Mitchell Quain, Donald L. Runkle and Matthew Simoncini.

The units are listed on the New York Stock Exchange and began trading under the ticker symbol "KCAC.U" on March 2, 2022. Each unit consists of one Class A ordinary share, one Class 1 redeemable warrant and one Class 2 redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. The Class 1 redeemable warrants and new units (each of which consists of a Class A ordinary share and a Class 2 redeemable warrant) have been approved for listing under the symbols "KCAC.W" and "KCA.U," respectively, once the Class 1 redeemable warrants begin separate trading.

UBS Securities LLC and Stifel, Nicolaus & Company, Incorporated acted as the joint book running managers for the offering, Robert W. Baird & Co. Incorporated acted as lead manager and Drexel Hamilton, LLC acted as co-manager.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com; and Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, or by email: SyndProspectus@Stifel.com or by telephone: (855) 300-7136.

A registration statement relating to the securities became effective on March 1, 2022 in accordance with the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms or timeline described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statements and preliminary prospectus for the Company's offering filed with the Securities and Exchange Commission ("SEC"). Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Daniel Huber
Chief Financial Officer
dan@kensington-cap.com
(703) 674-6514

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SOURCE Kensington Capital Acquisition Corp. IV