Quanergy Priced Upsized 9.8M Unit Public Offering @$1.70/Unit

Author: Charles Gross | October 30, 2022 06:40pm
Quanergy Systems, Inc., (NYSE:QNGY) today announced the pricing of an underwritten public offering for gross proceeds of approximately $16.7 million prior to deducting underwriting discounts and commissions and offering expenses. The offering is comprised of 9,800,000 Units, with each Unit consisting of one share of our common stock, par value $0.0001 per share (the "Common Stock") and two warrants to purchase one share of our Common Stock (the "Unit Warrants" and, together with the shares of Common Stock underlying such Unit Warrants, the "Units") at a public offering price of $1.70 per Unit. Each Unit Warrant has an exercise price of $1.70 and is exercisable for one share of Common Stock with a term of five years following the issuance date. The closing of the offering is expected to take place on or about November 2, 2022, subject to the satisfaction or waiver of customary closing conditions. Maxim Group LLC is acting as sole book-running manager in connection with this offering. In addition, the company has granted the underwriter a 30-day option to purchase up to 1,470,000 additional shares of Common Stock, and/or 2,940,000 Unit Warrants to purchase 2,940,000 shares of Common Stock, solely to cover over-allotments, if any, at the public offering price, less the underwriting discounts and commissions.

Posted In: QNGY