SAN FRANCISCO and MENLO PARK, Calif., Sept. 17, 2021 /PRNewswire/ -- Nextdoor,
Inc. ("Nextdoor" or the "Company") and Khosla Ventures Acquisition
Co. II (Nasdaq:KVSB) ("KVSB"), a special purpose acquisition
company sponsored by an affiliate of Khosla Ventures, LLC ("Khosla
Ventures"), today announced that they intend to list the Class A
common stock of Nextdoor Holdings, Inc. on the New York Stock
Exchange ("NYSE") upon closing of their proposed business
combination transaction.
"We are thrilled to announce our intention to list on the NYSE
and join its remarkable roster of industry-leading companies and
some of the world's most respected brands," said Sarah Friar, Chief Executive Officer, Nextdoor.
"We believe that our proposed transaction with KVSB and intent to
list on the NYSE will accelerate the growth of our platform and our
ability to lead in cultivating hyperlocal communities where
neighbors turn daily to receive trusted information, give and get
help, and build real-world connections."
"Nextdoor and the NYSE share a fundamental belief in the power
of community and the value of connecting people, data and
technology," said Stacey Cunningham,
President, NYSE Group. "Nextdoor's platform connects people to the
neighborhoods that matter most to them and we are thrilled to
welcome them to the NYSE community of icons and disruptors."
Additionally, Nextdoor will be hosting its first Investor Day on
Monday, September 20, 2021, beginning
at 12:30 p.m. ET. The Investor Day
will feature several members of Nextdoor's Leadership team,
including Chief Executive Officer Sarah
Friar and Chief Financial Officer Mike Doyle. The program will include a
conversation between Sarah Friar and
Bill Gurley, a member of Nextdoor's
Board of Directors, and a live Q&A with Sarah Friar and Mike
Doyle, as well as Kiran
Prasad, Head of Product, and Heidi
Andersen, Head of Revenue. The webcast registration for
Nextdoor's virtual Investor Day is available here and on our
Investor Relations website, investors.nextdoor.com.
Upon closing of the proposed transaction, KVSB will de-list from
the Nasdaq and the Class A common stock of Nextdoor Holdings, Inc.
will begin trading on the NYSE under the ticker symbol
"KIND". The listing on NYSE will be subject to application by
KVSB and Nextdoor to list the shares on NYSE and approval by NYSE
of such application.
About Nextdoor, Inc.
Nextdoor is where you connect to the neighborhoods that matter
to you so you can belong. Our purpose is to cultivate a kinder
world where everyone has a neighborhood they can rely on. Neighbors
around the world turn to Nextdoor daily to receive trusted
information, give and get help, get things done, and build
real-world connections with those nearby — neighbors, businesses,
and public services. Today, neighbors rely on Nextdoor in more than
275,000 neighborhoods across 11 countries. In the U.S., nearly 1 in
3 households uses the network. Nextdoor is based in San Francisco. For additional information and
images: nextdoor.com/newsroom.
About KVSB
KVSB is a special purpose acquisition company sponsored by
affiliates of Khosla Ventures. Khosla Ventures manages a series of
venture capital funds that make early-stage venture capital
investments and provide strategic advice to entrepreneurs building
companies with lasting significance. The firm was founded in 2004
by Vinod Khosla, co-founder of Sun
Microsystems. Khosla Ventures has over $14
billion dollars of assets under management and focuses on a
broad range of sectors including artificial intelligence,
agriculture/food, consumer, enterprise, financial services, health,
space, sustainable energy, robotics, VR/AR and 3D printing.
Collectively, Khosla Ventures portfolio of investments has created
nearly half a trillion dollars in market value.
Additional Information and Where to Find It /
Non-Solicitation
In connection with the proposed transaction, KVSB has filed a
registration statement on Form S-4 containing a proxy
statement/prospectus with the SEC. The registration statement on
Form S-4 is not yet effective. Once effective, the proxy
statement/prospectus will be sent to the stockholders of KVSB. KVSB
and Nextdoor also will file other documents regarding the proposed
transaction with the SEC. Before making any voting decision,
investors and security holders of KVSB are urged to read the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC in connection with the proposed
transaction as they become available because they will contain
important information about the proposed transaction. Investors and
security holders will be able to obtain free copies of the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by KVSB and Nextdoor through the website
maintained by the SEC at www.sec.gov.
Participants in Solicitation
KVSB and Nextdoor and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from KVSB's stockholders in connection with the proposed
transaction. Information about KVSB's directors and executive
officers and their ownership of KVSB's securities is set forth in
KVSB's filings with the SEC. To the extent that holdings of KVSB's
securities have changed since the amounts printed in KVSB's
Registration Statement on Form S-1, such changes have been or will
be reflected on Statements of Change in Ownership on Form 4 filed
with the SEC. A list of the names of such directors and executive
officers and information regarding their interests in the business
combination will be contained in the proxy statement/prospectus
when available. You may obtain free copies of these documents as
described in the preceding paragraph.
No Offer or Solicitation
These communications do not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act, or an exemption
therefrom.
Forward-Looking Statements
This communication contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the proposed transaction between Nextdoor and KVSB, including the
closing of the proposed business combination transaction, the
intention to list on the NYSE and approval by NYSE to list the
shares of Class A common stock of Nextdoor Holdings, Inc. These
forward-looking statements generally are identified by the words
"believe," "project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "will continue," "will likely result,"
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this communication. You should
carefully consider the risks and uncertainties described in the
"Risk Factors" section of KVSB's Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q, the registration statement on Form
S-4, and other documents filed by KVSB from time to time with the
SEC. These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Nextdoor and KVSB assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Neither Nextdoor nor KVSB gives any assurance that
either Nextdoor or KVSB will achieve its expectations.
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SOURCE Nextdoor, Inc.
