QuantumScape Announces Pricing of Public Offering of Class A Common Stock
Summary
QuantumScape Corporation (NYSE: QS), a leader in developing next-generation solid-state lithium-metal batteries, today announced the pricing of an underwritten public offering of 37,500,000 shares of its Class A common stock (the Shares) for gross proceeds of $300 million, before deducting the underwriting discount and commissions and estimated offering expenses.QuantumScape has granted the underwriters a 30-day option to purchase up to an additional 5,625,000 Shares at the public offering price less the underwriting discount. Goldman Sachs & Co. LLC and UBS Investment Bank acted as additional book-running managers.The public offering is being made pursuant to a shelf registration statement on Form S-3 that was filed by QuantumScape with the U.S. Securities and Exchange Commission (the "SEC") on July 29, 2022, and became effective on August 10, 2022. A final prospectus supplement will be filed with the SEC, a copy of which may also be obtained by contacting: Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 888-474-0200, or by email at ecm.prospectus@evercore.com; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.QuantumScape is on a mission to transform energy storage with solid-state lithium-metal battery technology. The companys next-generation batteries are designed to enable greater energy density, faster charging and enhanced safety to support the transition away from legacy energy sources toward a lower carbon future.The information in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements.