Quantumscape (QS) Stock News

QuantumScape (QS) announces the restatement of its consolidated financial statements for the year ended December 31, 2020, following the SEC's guidance on SPAC warrants. This restatement will adjust the accounting treatment of public and private placement warrants to reflect them as liabilities, leading to an estimated increase in liabilities of $675 to $705 million and a decrease in additional paid-in-capital by $95 to $125 million. Importantly, there is no cash impact on the company's operations or future plans.

QuantumScape Corporation (NYSE: QS) announced the appointment of Celina Mikolajczak as an independent director. Currently serving as Vice-President of Engineering & Battery Technology at Panasonic, she has extensive experience in battery technology for electric vehicles. Her previous roles include Director of Engineering at Uber and Senior Manager at Tesla. CEO Jagdeep Singh expressed excitement about her expertise in high-volume battery manufacturing, which will be crucial for advancing QuantumScape's solid-state lithium-metal battery technology.

QuantumScape Corporation (NYSE: QS) has successfully closed an underwritten public offering of 11,960,000 shares of its Class A common stock, raising gross proceeds of $478.4 million. This includes the full exercise of the underwriters’ option for an additional 1,560,000 shares. The offering was managed by Goldman Sachs & Co. LLC and Morgan Stanley as joint lead book-running managers, with other firms acting as co-managers. The Securities and Exchange Commission declared the registration statement for this offering effective on March 25, 2021.

QuantumScape Corporation (NYSE: QS) announced a public offering of 10,400,000 shares of its Class A common stock, aiming for gross proceeds of $416.0 million. Underwriters have a 30-day option to purchase an additional 1,560,000 shares at the public offering price. The offering is set to close on March 29, 2021, pending customary conditions. Goldman Sachs and Morgan Stanley lead the offering, with Deutsche Bank as an additional book-running manager. This event follows the SEC's effective declaration of the registration statement on March 25, 2021.

QuantumScape Corporation (NYSE: QS) has initiated a public offering of 13 million shares of its Class A common stock, with an option for underwriters to purchase an additional 1.95 million shares. Proceeds from the offering will finance the construction of a larger QS-0 pre-pilot line and support equity contributions for a joint venture with Volkswagen aimed at expanding the QS-1 manufacturing facility. The offering is managed by Goldman Sachs and Morgan Stanley, with a preliminary prospectus filed with the SEC.

QuantumScape (NYSE: QS) announced its financial results for Q4 and full year 2020, ending December 31. The company, focused on next-generation solid-state lithium-metal batteries for electric vehicles, shared a Shareholder Letter on its Investor Relations website. CEO Jagdeep Singh expressed excitement over QuantumScape's debut quarterly letter and the progress made in developing multilayer cells. A conference call is scheduled for February 16, 2021, at 2:00 PM PT to discuss the results and future outlook.

QuantumScape Corporation (NYSE: QS) has amended its Warrant Agreement, effective March 5, 2021, allowing earlier exercise of public warrants to purchase Class A common stock. Originally, these warrants were exercisable starting June 30, 2021. Each public warrant can be exercised for $11.50 per share. All other terms of the Warrant Agreement, including redemption terms, remain unchanged, with the company unable to redeem warrants before July 30, 2021. This move enhances liquidity for warrant holders and aligns with QuantumScape's mission to innovate in energy storage technology.

QuantumScape Corporation (NYSE: QS) has filed a registration statement on Form S-8 with the SEC to register shares under its equity incentive plans. This includes the 2010 Equity Incentive Plan, the 2020 Employee Stock Purchase Plan, and the 2020 Equity Incentive Plan. Approximately 95% of the shares are currently locked-up or subject to trading restrictions. QuantumScape has not yet implemented the employee stock purchase plan, and no shares have been issued under the 2020 ESPP. The company focuses on developing solid-state lithium-metal batteries for electric vehicles.

QuantumScape Corporation (NYSE: QS) will release its fourth quarter and full year 2020 financial results on February 16, 2021, after market close. A conference call is scheduled for 2:00 p.m. PT (5:00 p.m. ET) featuring Co-founder and CEO Jagdeep Singh and CFO Kevin Hettrich. This call will provide insights into the company's performance, focusing on its advancements in solid-state lithium-metal batteries for electric vehicles. Investors can access the call via a live webcast on QuantumScape's Investor Relations website.