QuantumScape Raises $300M Via Equity Offering
Portfolio Pulse from Shivani Kumaresan
QuantumScape Corporation has announced the pricing of its underwritten public offering of 37.5 million shares of its Class A common stock for gross proceeds of $300 million. The company has also granted the underwriters a 30-day option to purchase up to an additional 5.62 million shares at the public offering price. The offering is expected to close on August 8, 2023. Following the announcement, QS shares are trading lower by 9.19% at $8.00 in premarket trading.
August 04, 2023 | 3:00 pm
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QuantumScape's stock price is trading lower following the announcement of its public offering. The dilution of shares could be a factor in the stock's decline.
The announcement of a public offering often leads to a decrease in the stock price due to the dilution of shares. In this case, QuantumScape's stock price has dropped by 9.19% in premarket trading following the announcement.
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RELEVANCE 100