K&F Growth Acquisition Corp. II signs non-binding LOI to take David's Bridal's Pearl public at $350M enterprise value

K&F GROWTH ACQUISITION CORP. II

Non-binding LOI, amended Oct 21, 2026 from original Sept 11, 2026, would separate Pearl from David's Bridal and list it via K&F (Nasdaq: KFII) at a $350M pro forma enterprise value.
Deal contemplates a $75M PIPE including a proposed $25M anchor investment from CION Investment Corporation, David's Bridal's largest shareholder.
Pearl forecasts >30% EBITDA margins in 2026 and revenue growth over 100% in 2027 to more than $85 million; it cites ~90% of U.S. brides in its ecosystem.
Kelly Cook, David's Bridal CEO since 2019, is expected to lead Pearl as CEO, with president Elina Vilk, a former Meta and PayPal executive.
Transaction remains non-binding and subject to due diligence, a definitive agreement, board and shareholder approvals, and regulatory clearance.

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