QuantumScape seeks Delaware court validation of charter amendments and share issuances after Boxed ruling

QuantumScape Corp

Filed Section 205 petition on Feb 9; court granted expedited hearing for Feb 27, 2023.
Petition seeks validation of Share Increase and Opt-Out Amendments and over 324M shares issued in Nov 2020 de-SPAC.
Stockholder demand letter received Jan 27, 2023 challenged validity; company cites Boxed decision as cause of uncertainty.
As of Oct 2022, ~435.9M shares outstanding; avg daily volume ~7.5M shares on NYSE.
Company warns uncertainty could disrupt capital access, employee compensation, and annual meeting voting.

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