공고 • Dec 22
Khosla Ventures Acquisition Co. Files Form 15 Khosla Ventures Acquisition Co. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Class A Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Class A Common Stock was $0.0001 per share. 공고 • Dec 13
Khosla Ventures Acquisition Co.(NasdaqCM:KVSA) dropped from NASDAQ Composite Index Khosla Ventures Acquisition Co. has been dropped from NASDAQ Composite Index . 공고 • Aug 25
Khosla Ventures Acquisition Receives Non-Compliance Letter from Nasdaq On August 18, 2023, Khosla Ventures Acquisition Co. (the Company") received a letter (the Nasdaq Letter") from the Listing Qualifications staff of The Nasdaq Stock Market LLC (Nasdaq") notifying the Company that the Company is not in compliance with Nasdaq Listing Rule 5550(b)(2), which requires that the Company's listed securities maintain a minimum Market Value of Listed Securities (MVLS") of $35 million. The Nasdaq Letter further provided that, pursuant to Nasdaq Listing Rule 5810(c)(3)(C), the Company is entitled to a compliance period to regain compliance with Nasdaq Listing Rule 5550(b)(2), which compliance period will expire on February 14, 2024. Anytime during the compliance period described above, the company's MVLS must close at $35 million or more for a minimum of ten consecutive business days, at which point Nasdaq will provide the Company with written confirmation of compliance. The Company is working to comply with Nasdaq's MVLS requirements as set forth in the Nasdaq Listing Rule 5550(b)(2) within the compliance period provided by Nasdaq. New Risk • Aug 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$73.0m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$7.0m). Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Large one-off items impacting financial results. Market cap is less than US$100m (US$73.0m market cap). 공고 • Apr 03
Khosla Ventures Acquisition Co. announced delayed annual 10-K filing On 04/01/2022, Khosla Ventures Acquisition Co. announced that they will be unable to file their next 10-K by the deadline required by the SEC. 공고 • Feb 15
Khosla Ventures Acquisition Co. Announces Resignation of Jagdeep Singh from the Board On February 10, 2022 Jagdeep Singh notified the Board of Directors of Khosla Ventures Acquisition Co. of his resignation from the Board and all committees thereof, effective immediately. 공고 • Sep 01
Khosla Ventures Acquisition Co. Receives Expected Notice from Nasdaq Regarding Delayed Quarterly Report Khosla Ventures Acquisition Co. announced August 31, 2021 that, on August 25, 2021, it received a notice ("Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") because the Company failed to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 (the "Form 10-Q") with the Securities and Exchange Commission ("SEC"). The Notice has no immediate effect on the listing or trading of the Company's securities on the Nasdaq Capital Market. As previously disclosed in the Form 12b-25 filed on August 16, 2021 by the Company with the SEC, the Company was unable to file the Form 10-Q by the required due date of August 16, 2021. The Company intends to file the Form 10-Q with the SEC as soon as practicable. 공고 • Aug 17
Khosla Ventures Acquisition Co. announced delayed 10-Q filing On 08/16/2021, Khosla Ventures Acquisition Co. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공고 • Jun 10
Valo Health, LLC entered into an agreement to acquire Khosla Ventures Acquisition Co. (NasdaqCM:KVSA) from Khosla Ventures SPAC Sponsor LLC and others in a reverse merger transaction for $2.3 billion. Valo Health, LLC entered into an agreement to acquire Khosla Ventures Acquisition Co. (NasdaqCM:KVSA) from Khosla Ventures SPAC Sponsor LLC and others in a reverse merger transaction for $2.3 billion on June 9, 2021. Under the terms of the agreement, Valo Health will get 225 million Class A common stock of Khosla Ventures. In addition, on June 9, 2021, concurrently with the execution of the merger agreement, Khosla Ventures entered into subscription agreements pursuant to which investors have collectively subscribed for approximately 16.85 million shares of Khosla Ventures common stock for an aggregate purchase price equal to $168.5 million. Post the transaction, existing Valo rollover equity would be 80%, subscription investors will hold 8%, Khosla Ventures public shares will constitute 10%, and Khosla Ventures sponsor shares will constitute 2%. Upon closing, Khosla Ventures Acquisition will immediately be renamed Valo Health, Inc. Samir Kaul, Founding Partner and Managing Director at Khosla Ventures to join Valo’s Board of Directors following the completion of the business combination.
The Board of Directors Khosla Ventures Acquisition has unanimously approved the transaction and Boards of Directors of Valo has approved the transaction. The transaction is subject to approval of the stockholders of Khosla Ventures and equity holders of Valo; effectiveness of the proxy statement / registration statement on Form S-4 to filed in connection with transaction; expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act; receipt of approval for listing on the Nasdaq Stock Market the shares of Khosla Ventures to be issued in connection with the merger; Khosla Ventures have at least $5,000,001 of net tangible assets upon closing; and he completion of the Pre-Closing Restructuring no later than one business day prior to the closing. The closing of this transaction is expected to occur in the third quarter of 2021.
Jim Morrone and Luke J. Bergstrom of Latham & Watkins LLP acted as legal advisors to Khosla Ventures. Joseph C. Theis and Stuart M. Cable of Goodwin Procter LLP acted as legal advisors, and, J.P. Morgan Securities LLC acted as financial advisor to Valo. J.P. Morgan Securities LLC acted as Khosla Ventures' sole placement agent for the subscription agreement. Cooley LLP is acting as legal counsel to the placement agent. 공고 • May 19
Khosla Ventures Acquisition Co. announced delayed 10-Q filing On 05/18/2021, Khosla Ventures Acquisition Co. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.