QuantumScape Announces Pricing of Public Offering of Class A Common Stock

Rhea-AI Summary

QuantumScape Corporation (NYSE: QS) announced a public offering of 10,400,000 shares of its Class A common stock, aiming for gross proceeds of $416.0 million. Underwriters have a 30-day option to purchase an additional 1,560,000 shares at the public offering price. The offering is set to close on March 29, 2021, pending customary conditions. Goldman Sachs and Morgan Stanley lead the offering, with Deutsche Bank as an additional book-running manager. This event follows the SEC's effective declaration of the registration statement on March 25, 2021.

Positive

• The offering aims to raise $416.0 million, potentially funding growth initiatives.
• No shareholders are selling in this offering, which may limit dilution impact.

Negative

• The issuance of new shares may lead to shareholder dilution.
• Market reaction to the offering could negatively affect stock price.

QuantumScape Corporation (NYSE: QS), today announced the pricing of an underwritten public offering of 10,400,000 shares of its Class A common stock (the “Shares”) for gross proceeds of $416.0 million. QuantumScape has granted the underwriters a 30-day option to purchase up to an additional 1,560,000 Shares at the public offering price less the underwriting discount. No shareholders are selling in this offering. The offering is expected to close on March 29, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint lead book-running managers for the Offering. Deutsche Bank Securities is acting as an additional book-running manager.

A registration statement relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission on March 25, 2021. Copies of the final prospectus relating to this offering may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by phone at (866) 471‐2526, or by email at prospectus-ny@ny.email.gs.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.

About QuantumScape Corporation

QuantumScape is a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles. The company's mission is to revolutionize energy storage to enable a sustainable future.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210325005552/en/

FAQ

What is the size of QuantumScape's recent public offering?

QuantumScape's recent public offering consists of 10,400,000 shares for gross proceeds of $416.0 million.

What is the purpose of QuantumScape's public offering?

The public offering is intended to raise funds for growth initiatives.

What is the closing date for QuantumScape's public offering?

The public offering is expected to close on March 29, 2021.

Who are the underwriters for QuantumScape's public offering?

Goldman Sachs and Morgan Stanley are the joint lead book-running managers, with Deutsche Bank as an additional manager.

Will any existing shareholders sell shares in this offering?

No shareholders are selling shares in this offering.