Kensington Capital Acquisition IV filed a prospectus and preliminary proxy outlining its proposed merger with Amprius Technologies, which manufactures lithium-ion batteries. The deal has a pro forma implied enterprise value of $939 million.
If approved, upon closing Amprius would trade on the NYSE under new ticker symbol AMPX.
Announced last month, the transaction will result in gross proceeds of approximately $430 million to Amprius, consisting of $230 million of cash in Kensington’s trust, less 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.
