kkr  co inc the investment company which controls kkr acquisition holdings i corp plans to pay back 12 billion to shareholders as the thirdlargest special purpose acquisition company spac follows others who have folded amid regulatory changes and tougher deal conditions nowadays spacs have run into tighter credit conditions and difficulty in the market for mergers and acquisitions amid a gulf between prices asked by sellers and prices that buyers are willing to pay kkr acquisition holdings i kahc ceo glenn murphy said in a filing late thursday the firm decided to liquidate after considering a variety of deals “we did work on over 50 potential merger targets and although we came close on a number of occasions given market conditions we made the decision to windup our company and return the funds in our trust account to our public stockholders” murphy said in a filing on wednesday the new york stock exchange said thursday it would delist warrants of kkr acquisition holdings i kahcwt  typically issued as part of spac deals warrants have no value if its parent plans to liquidate kkr said in a filing that it has no plans to appeal the nyse’s move kkr  co kkr raised 12 billion for kkr acquisition holdings i in march 2021 as the thirdlargest spac ever tied with austerlitz acquisition corp ii and churchill capital corp vii cvii  according to data from finance professor jay ritter of university of florida pershing square tontine holdings ltd the spac from pershing square founder and billionaire william ackman ranked as the largest at 4 billion but ackman opted to liquidate the vehicle over the summer also read demise of largest spac ever comes amid market and regulatory headwinds foley trasimene acquisition corp ii raised 13 billion in the no 2 spac slot that spac managed to close an acquisition and now trades as paysafe ltd psfe  cannae holdings inc cnne and trasimene capital management sponsors of austerlitz acquisition corp ii announced in october they would redeem money they raised from investors kkr acquisition holdings ceo murphy is currently a board member of lululemon athletica inc lulu and was chairman and ceo of gap inc gps from 2007 until 2014 like other spacs also known as blank check companies kkr acquisition holdings had a twoyear window to complete a deal in its case kkr acquisition holdings had until march to do so sometimes shareholders will agree to extend the time for a transaction however regulators have been taking a closer look at spacs as well the securities and exchange commission is studying a proposal to require enhanced disclosure to prospective investors about potential conflicts of interest between spac sponsors and the companies they target as well as better information about how an investor’s interest in a spac can be diluted as it takes a company public also read spac crackdown sec proposes new rules stripping its advantages over traditional ipos