search icon
      blog search icon

      QuantumScape Inc. (QS) stock rises during ore-market session. Here’s what’s happening: - Stocks Telegraph

      By ST Staff

      Published on

      March 23, 2021

      9:45 AM UTC

      QuantumScape Inc. (QS) stock rises during ore-market session. Here’s what’s happening: - Stocks Telegraph

      QuantumScape Inc. (NASDAQ: QS) stock gained by 8.34% in the last trading close whereas the QS stock price declines by 8.52% in the pre-market trading session. The rise and decline in QS stock has been observed after QuantumScape announced its underwritten public offering of Class A common stock. QuantumScape deals with production of solid state lithium metal batteries for electric cars. The American Company, aims to bring advancement in energy storage to ensure a sustainable future.

      Motive of QuantumScape behind this public offering

      On March 22, QuantumScape started off an underwritten public offering comprised of 13,000,000 shares of its Class A common stock offered by QuantumScape. Under this offering, the underwriters will have a 30-day option to buy up to an additional 1,950,000 shares of Class A common stock from QuantumScape. The offering is dependent on market conditions, and there is no assurance to whether or when it will be completed, or as to the size or terms of the offering.

      The motive of this offering is that QuantumScape will utilize the money generated through this offering:

      • Firstly QuantumScape is looking forward to make a larger QS-0 pre-pilot line than the already announced one.
      • To finance its full share of equity contributions for its joint project with VW for the previously disclosed 20GWh expansion of QS-1 joint manufacturing facility.
      • And lastly for working capital and general corporate purposes.


      Goldman Sachs & Co. LLC and Morgan Stanley are working together to joint lead book running managers for this offering. As well as, Deutsche Bank Securities is also working as an additional book-running manager.  It has also been declared that the offering will only be finalized through the means of a prospectus.

      More From Stocks telegraph