Why QuantumScape (QS) Stock Is Moving
Portfolio Pulse from Henry Khederian
QuantumScape Corp's shares are trading lower by 2.4% following the announcement of a $300 million public offering of Class A common stock. The underwriters have a 30-day option to purchase up to an additional 5.6 million shares at the offering price. The offering is set to close on August 8. Evercore ISI and Morgan Stanley were joint lead book-running managers, with Goldman Sachs & Co. LLC and UBS Investment Bank as additional book-running managers.
August 07, 2023 | 5:48 pm
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QuantumScape's stock price is experiencing a short-term decline following the announcement of a $300 million public offering of Class A common stock.
The announcement of a public offering often leads to a short-term decline in a company's stock price as it dilutes the value of existing shares. In this case, QuantumScape's stock price has dropped by 2.4% following the announcement.
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