CORRECTING and REPLACING Amprius Announces Final Results of Offer to Exercise Allowing Public and Private Warrants to be Exercised at a Reduced Price

Rhea-AI Summary

Amprius announced the final results of its Offer to Exercise, which allowed public and private warrant holders to purchase shares at a reduced price of $1.10 per warrant. The offer expired on June 11, 2024, and resulted in 13,075,664 warrants being exercised, raising approximately $14.4 million in gross proceeds for the company. Warrants that were not exercised remain at the original price of $11.50 per share. The offer details were filed with the SEC and can be accessed on their website.

Positive

• Offer to Exercise generated gross proceeds of approximately $14.4 million.
• 13,075,664 warrants were successfully exercised, demonstrating strong participation.
• Reduced exercise price of $1.10 per warrant was an attractive offer for investors.

Negative

• Warrants not exercised remain at the original higher price of $11.50 per share, potentially less appealing to warrant holders.
• The exercise price reduction to $1.10 may indicate financial pressures or a need to quickly raise capital.
• Fees and other expenses will reduce the net proceeds from the $14.4 million gross amount.

FREMONT, Calif.--(BUSINESS WIRE)-- First paragraph, second sentence of release should read: The Offer to Exercise expired at 5:00 p.m. Eastern Time on June 11, 2024. (instead of The Offer to Exercise expired at 5:00 p.m. Eastern Time on July 11, 2024.).

The updated release reads:

AMPRIUS ANNOUNCES FINAL RESULTS OF OFFER TO EXERCISE ALLOWING PUBLIC AND PRIVATE WARRANTS TO BE EXERCISED AT A REDUCED PRICE

Amprius Technologies, Inc. (“Amprius” or the “Company”) (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced the final results of its previously announced offer (the “Offer to Exercise”) to the holders of the Company’s outstanding public warrants to purchase up to 29,268,236 shares of the Company’s common stock, $0.0001 par value per share (“Common Stock”), and private warrants to purchase up to 16,400,000 shares of Common Stock (together with the public warrants, the “Offering Warrants”), at a temporarily reduced cash exercise price of $1.10 per Offering Warrant. The Offer to Exercise expired at 5:00 p.m. Eastern Time on June 11, 2024.

Based on the final count by Continental Stock Transfer & Trust Co., the depositary agent for the Offer to Exercise, 13,075,664 Offering Warrants to purchase an aggregate of 13,075,664 shares of Common Stock were tendered and exercised for aggregate gross proceeds to the Company of approximately $14.4 million, before deducting information agent fees and other expenses. Offering Warrants that were not tendered and exercised remain in effect at the original exercise price of $11.50 per share of Common Stock.

The Offer to Exercise was made pursuant to the Tender Offer Statement on Schedule TO originally filed by the Company with the Securities and Exchange Commission (the “SEC”) on May 13, 2024 (as amended, the “Original Schedule TO”). The complete terms of the Offer to Exercise were set forth in the Schedule TO and related exhibits filed with the SEC. Copies of the Schedule TO and other related materials are available on the SEC’s website, at www.sec.gov. This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to sell securities.

About Amprius Technologies, Inc.

Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries producing the industry’s highest known energy density cells. The Company’s commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third-party validation of 500Wh/kg and 1,300 Wh/L. The Company’s corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into a lease agreement for an approximately 774,000 square foot facility in Brighton, Colorado and expanded its product portfolio to include the SiCore™ platform.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612881341/en/

Investors

Tom Colton, Chris Adusei-Poku

Gateway Group, Inc.

949-574-3860

IR@amprius.com

Media

Zach Kadletz, Brenlyn Motlagh

Gateway Group, Inc.

949-574-3860

Amprius@Gateway-grp.com

Source: Amprius Technologies, Inc.

FAQ

When did the Amprius warrant exercise offer expire?

The warrant exercise offer expired on June 11, 2024.

How many Amprius warrants were exercised in the offer?

A total of 13,075,664 warrants were exercised in the offer.

What was the reduced exercise price for Amprius warrants?

The reduced exercise price for Amprius warrants was $1.10 per warrant.

How much did Amprius raise from the warrant exercise offer?

Amprius raised approximately $14.4 million from the warrant exercise offer.

What happens to Amprius warrants that were not exercised?

Warrants that were not exercised remain in effect at the original exercise price of $11.50 per share.