Kensington Capital Acquisition Corp.

QuantumScape Corporation, a developer of solid-state lithium-metal batteries for electric vehicles, has entered into a definitive merger agreement with Kensington Capital Acquisition Corp. The transaction will result in QuantumScape becoming a publicly listed company on the NYSE under ticker 'QS', raising over $700 million in proceeds.

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.