Kingswood Acquisition Corp.'s US$115M IPO

Winston & Strawn LLP represented Kingswood Acquisition Corp. (“Kingswood”), a special purpose acquisition company, in its IPO of 11,500,000 units (including 1,500,000 units issued pursuant to the exercise in full of the underwriters’ overallotment option) at an offering price of US$10.00 per unit, with each unit consisting of one share of Class A common stock and three-fourths of a warrant, with each whole warrant entitling the holder thereof to purchase one share of Class A common stock at US$11.50 per share. The units began trading on the NYSE on November 20, 2020, under the ticker symbol “KWAC.U.” Once the securities comprising the units begin separate trading, the shares of Class A common stock and the warrants are expected to trade on the NYSE under the symbols “KWAC” and “KWAC WS,” respectively. Kingswood intends to identify a target business in the financial services industry with a focus on delivering differentiated financial services in the wealth management, financial advisory, and investment management sectors to the mass affluent and private client investor community.