Appleby are pleased to have acted as Cayman Islands counsel for Kochav Defense Acquisition Corp. (NASDAQ: KCHVU) (the Company), alongside Ellenoff Grossman & Schole LLP, in its initial public offering (IPO) of 25,300,000 units, at a price of $10.00 per unit, which includes 3,300,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, resulting in gross proceeds of $253,000,000.
The Company's units are listed on the Nasdaq Global Market (Nasdaq) under the symbol "KCHVU" and began trading on May 28, 2025. Each unit issued in the offering consists of one Class A ordinary share of the Company and one right to receive one seventh (1/7) of a Class A ordinary share upon the consummation of the Company's initial business combination. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols "KCHV" and "KCHVR," respectively.
Concurrently with the closing of the IPO, the Company closed on a private placement of 524,050 units at a price of $10.00 per unit, resulting in gross proceeds of $5,240,500. The private placement units are identical to the units sold in the initial public offering, subject to certain limited exceptions as described in the final prospectus. The Company may pursue an initial business combination target in any industry or geographical location, it intends to focus on the defense and aerospace industries.
The Appleby corporate team included Partner Simon Raftopoulos and Counsel Alexandra Low.