K&F GROWTH ACQUISITION CORP. II

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.

K&F Growth Acquisition Corp. II reported a net income of $4.89 million for the six months ended June 30, 2026, an increase from $4.52 million in the prior year. As a blank check company, it held $305.19 million in its Trust Account as of June 30, 2026, with a per-share redemption value of $10.62. Management noted a going concern risk due to current liquidity and the mandatory liquidation date of November 6, 2026, if a business combination is not completed.

K&F Growth Acquisition Corp. II (KFII) reported a net income of $2.40 million for the three months ended March 31, 2026, an increase from $1.60 million in the prior year, primarily driven by interest earned on its Trust Account. However, the company's management has raised substantial doubt about its ability to continue as a going concern due to its liquidity condition and the upcoming liquidation date of November 6, 2026, if a business combination is not completed. As of March 31, 2026, KFII had not yet entered into a definitive agreement for a business combination.