QuantumScape to merge with Kensington Capital in $3.3B SPAC deal

QuantumScape Corporation, a developer of solid-state lithium-metal batteries for electric vehicles, announced a definitive agreement to merge with Kensington Capital Acquisition Corp., a SPAC. The deal values QuantumScape at $3.3 billion and raises over $700 million in proceeds, including a $500 million PIPE.

“On September 3, 2020, QuantumScape Corporation and Kensington Capital Acquisition Corp. announced a definitive agreement for a business combination that would result in QuantumScape becoming a publicly listed company.”wsgr.com

• 1 source
• wsgr.comWilson Sonsini Advises QuantumScape in Merger with ...Sep 3, 2020

Summarized from public sources; check the original articles before acting on it.