David's Bridal plans SPAC merger to take AI wedding platform Pearl public

David's Bridal said Pearl, its AI-powered wedding planning platform, would become a standalone public company through a merger with K&F Growth Acquisition Corp. II. The letter of intent is non-binding and values Pearl at $350 million. The structure contemplates a $75 million private investment alongside the merger. A spin-off lets a traditional retailer isolate a software unit and test its valuation in public markets. The parties expect the transaction to close in the first half of 2027, which leaves time for definitive documents and review before any vote. For founders, the deal shows a consumer AI product embedded in a legacy business being valued on its own. Builders should note that a $350 million figure for a vertical planning app gives a public-market reference point for similar tools.