The plans call for Pearl to own the David’s Bridal’s brand and intellectual property, while David's Bridal's retail operations continue to be owned separately by CION Investment Corp.

Pearl — a division of David’s Bridal that operates an AI-powered wedding planning, marketplace and digital media platform — could soon become a stand-alone, publicly traded company that also owns its parent company’s name.

That the plan proposed by David’s Bridal Inc. and K&F Growth Acquisition Corp. II, a special purpose acquisition company. The two companies have entered into a nonbinding letter of intent to separate out Pearl, which is being valued at $350 million.

Pearl would own the David’s Bridal’s brand and intellectual property, while David’s Bridal’s retail operations would continue to be owned separately by Cion Investment Corporation, the largest shareholder.

The plan is intended to accelerate growth of Pearl and to strengthen David’s Bridal by opening up opportunities for new commercial agreements and relationships, the companies said on Thursday.

David’s Bridal is expected to remain a material ongoing shareholder in Pearl.

According to the plan, David’s Bridal’s stores “will operate as usual, with no disruption to day-to-day operations, appointments, products, services or the guest experience. The proposed separation is designed to unlock new growth opportunities for both businesses while preserving the trusted David’s Bridal shopping experience that millions of brides and guests rely on, in stores and online.”

Kelly Cook, chief executive officer of David’s Bridal, is expected to become CEO of Pearl if it goes public. A search will be conducted for a new CEO for David’s Bridal.

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