DealsOct 22, 2026, 09:31 AM
K&F Growth Acquisition Corp. II and David's Bridal Sign LOI for Pearl Combination
AI Summary
K&F Growth Acquisition Corp. II (KFII) and David's Bridal announced an amended letter of intent for a business combination that will result in Pearl, David's Bridal's AI-powered wedding planning, media, and commerce division, becoming a standalone public company. The proposed transaction values Pearl at a pro forma enterprise value of $350 million and includes a $75 million PIPE financing, with CION Investment Corporation as a proposed anchor investor. Pearl is expected to achieve significant revenue growth and strong EBITDA margins. The deal is anticipated to close in the first half of 2027, pending further negotiation and customary approvals.
Key Highlights
- K&F Growth Acquisition Corp. II and David's Bridal entered an amended letter of intent for a potential business combination with Pearl.
- Pearl, David's Bridal's wedding planning division, will be separated to become a standalone public company.
- The proposed transaction values Pearl at a pro forma enterprise value of $350 million.
- A $75 million PIPE financing is contemplated, with CION Investment Corporation proposing a $25 million anchor investment.
- Pearl is projected to generate over 30% EBITDA margins in 2026 and revenue growth of over 100% in 2027 to exceed $85 million.
- The transaction is expected to close in the first half of 2027, subject to definitive agreements and approvals.
Price Impact
More from KFII