Monday 30 November 2020

US-based electric vehicle battery company QuantumScape Corp. has closed its merger with special purpose acquisition company Kensington Capital Acquisition Corp. (NYSE: KCAC). With closing, the combined company will remain listed on the New York Stock Exchange under the ticker symbol "QS".

QuantumScape raises over USD 700m in proceeds through the business combination, including a USD 500m fully committed PIPE anchored by institutional investors including Fidelity Management and Research company LLC and Janus Henderson Investors.