K2 Capital completes $138 million IPO on NASDAQ

K2 Capital Acquisition Corporation (NASDAQ: KTWOU) closed its initial public offering of 13.8 million units at $10 per unit on January 30, raising $138 million. The offering included the full exercise of underwriters' option to purchase an additional 1.8 million units.

Each unit consists of one Class A ordinary share and one right to receive one-fifth of one Class A ordinary share upon completion of the company's initial business combination. Trading began on NASDAQ on January 29 under ticker symbols "KTWOU" for units, "KTWO" for Class A ordinary shares, and "KTWOR" for rights.

D. Boral Capital LLC served as sole bookrunner for the offering. Loeb & Loeb LLP provided legal counsel to K2 Capital, while Freshfields US LLP advised D. Boral Capital.

The Securities and Exchange Commission declared the company's registration statement effective on January 28. K2 Capital is a special purpose acquisition company formed to pursue mergers, acquisitions, or similar business combinations with other businesses.

D. Boral Capital, founded in 2020, reports having raised approximately $35 billion in capital across approximately 400 transactions since its inception. The New York-based investment bank focuses on middle-market and emerging growth companies across global markets.

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