QuantumScape Announces an Amendment to the Warrant Agreement to Advance the Exercise Date of the Public Warrants
February 16 2021 - 7:00AM
Business Wire
QuantumScape Corporation (NYSE: QS, or "QuantumScape"), a leader
in the development of next generation solid-state lithium-metal
batteries, today announced that the Warrant Agreement, dated June
25, 2020, between QuantumScape and Continental Stock Transfer &
Trust Company (the “Warrant Agreement”) was amended to allow for
the earlier exercise of the public warrants to purchase shares of
QuantumScape’s Class A common stock (the “Public Warrants”). The
Public Warrants were issued in connection with the IPO in June 2020
and the shares of Class A common stock underlying the Public
Warrants were registered on the Form S-1 declared effective on
December 31, 2020 (Registration No. 333-251433).
Prior to the amendment, the Public Warrants were exercisable
starting on June 30, 2021. Following the amendment, the Public
Warrants are now exercisable starting on March 5, 2021, thus
allowing for holders of Public Warrants to exercise their right to
purchase one share of QuantumScape’s Class A common stock for
$11.50 for each Public Warrant starting at this earlier date. All
other terms in the Warrant Agreement, including the redemption
terms for the Public Warrants, remain unchanged; QuantumScape may
not redeem Public Warrants before July 30, 2021. Additionally, the
terms for all other outstanding QuantumScape warrants remain
unchanged.
Additional information on the amendment of the Warrant Agreement
can be found in QuantumScape’s SEC filings posted on
https://ir.quantumscape.com/. Questions concerning exercise of the
Public Warrants can be directed to Continental Stock Transfer &
Trust Company, 1 State Street, 30th Floor, New York, New York
10004, Attention: Compliance Department, telephone number (212)
509-4000.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any offer of any
of QuantumScape’s securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About QuantumScape Corporation
QuantumScape is a leader in the development of next generation
solid-state lithium-metal batteries for use in electric vehicles.
QuantumScape’s mission is to revolutionize energy storage to enable
a sustainable future.
For additional information, please visit
www.quantumscape.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210216005433/en/
For Investors John Saager, CFA Head of Investor Relations
ir@quantumscape.com
For Media media@quantumscape.com
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