Khosla Ventures Acquisition Co. III (NasdaqCM:KVSC) announced a private placement of 1,300,000 shares of class A common stock at a price of $10 per share for gross proceeds of $13,000,000 on February 12, 2021. The transaction will include participation from returning investor Khosla Ventures SPAC Sponsor III LLC. The company will issue 1,450,000 shares of class A common stock if the underwriters’ over-allotment option is exercised in full. The closing of the transaction will occur concurrently with the closing of the company's IPO.