Amprius Technologies and Kensington Capital Acquisition IV today announced a definitive agreement for a merger that has a pro forma implied enterprise value of $939 million. If approved, upon closing Amprius Technologies stock will trade on the NYSE under new ticker symbol AMPX.
Founded in 2008, Amprius manufactures lithium-ion batteries.
The transaction will result in gross proceeds of approximately $430 million to Amprius, consisting of $230 million of cash in Kensington’s trust, before any redemptions, and up to $200 million in additional equity financing to be raised prior to the closing of the business combination.
Hughes Hubbard & Reed is legal advisor and Marcum is serving as auditor to Kensington. Oppenheimer & Co. is serving as financial advisor, Wilson Sonsini Goodrich & Rosati is serving as legal advisor, and SingerLewak is serving as auditor to Amprius. Read more.
