Kensington Capital Acquisition IV today in an 8-K filing said its shareholders voted in favor of merging with Amprius Technologies.
Redemptions erased $165.3 million from the SPAC’s trust, or about 72%, according to the filing.
The SPAC brought about $258.4 million to the table, including $230 million cash in trust and PIPE investments. After redemptions, Kensington IV would have about $93 million remaining.
Amprius had waived the minimum cash closing condition. Kensington in the filing said the transaction is expected to close today, after which Amprius would begin trading on the NYSE under new ticker symbol AMPX.
As announced in May, the transaction was originally expected to result in gross proceeds of approximately $430 million to the combined company.
Amprius manufactures lithium-ion batteries. Read more.
