Kingswood Acquisition Corp.
KWAC
Other OTC13.30
USD
+0.05
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Kingswood Acquisition Corp.
KWAC
(Other OTC)
Recent
price
13.30
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Kingswood Acquisition Corp. (KWAC) is a blank check company, or special purpose acquisition company (SPAC), whose principal business activity is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, primarily targeting opportunities in the wealth management, financial advisory, and investment management sectors. Incorporated in 2020 and headquartered in New York, New York, the company has no significant standalone operations but focuses on strategic combinations to build a vertically integrated platform serving retail mass affluent investors and private clients in the United States and internationally. Prior to any de-SPAC transaction, KWAC does not manufacture or sell products or provide services beyond pursuing such business combinations. In March 2024, Kingswood Acquisition Corp. completed its merger with Wentworth Management Services LLC, a broker-dealer aggregator operating four broker-dealers across 535 offices in all 50 U.S. states; the transaction resulted in both entities becoming wholly-owned subsidiaries of the newly formed Binah Capital Group, Inc. (NASDAQ: BCG), a publicly traded wealth management enterprise with approximately $23-25 billion in assets under management and over $285 billion in affiliated assets, at a pro forma enterprise value of $208 million. The deal generated gross cash proceeds of about $30 million (assuming no redemptions) and positioned the combined company to pursue further growth through strategic M&A, enhanced operational efficiencies, hybrid advisor models (including open architecture platforms, independent registered status, and W2 advisors), and expanded custody and clearing options for over 1,900 advisors. Post-merger, KWAC trades over-the-counter following its prior NYSE delisting, with Binah Capital Group now encompassing advisory services, broker-dealer operations, investment management, a dealer manager business, investment banking division, and wholesale distribution.
Binah Capital Group debuts as publicly traded entity after successful KWAC-Wentworth merger
Kingswood Acquisition Corp. Further Postpones Special Meeting
Kingswood Acquisition Corp. Makes Announcements Regarding Two Special Meetings of Stockholders