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Neighborhood social network Nextdoor took the next step toward becoming a publicly traded company, but not via the traditional initial public offering route.
Nextdoor said Tuesday that it entered into a definitive agreement with Khosla Ventures Acquisition Co. II, a special purpose acquisition company sponsored by an affiliate of Khosla Ventures, to become a publicly listed company, set to trade under the ticker symbol “KIND” once the transaction is closed.
The two companies said the deal will result in roughly $686 million in gross proceeds, including a $270 million fully committed private placement with participation from institutional investors such as funds and accounts advised by Baron
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