Kensington Capital Acquisition Corp. IV announced a private placement of 1,337,500 PIPE Units at a price of $10.00 per PIPE Unit for gross proceeds of $13375000 on September 7, 2022. Each unit consists of one common share and one warrant.

Each warrant exercisable to purchase one share at $12.50 per share. The transaction included participation from certain officers and directors of company and other members of the sponsor and their respective affiliates for 1,000,000 PIPE units, certain persons and entities of new board subscribed for an aggregate of 337,500 PIPE units.