QuantumScape launches $400M at-the-market equity offering program

QuantumScape Corp

Entered Distribution Agreements with J.P. Morgan, Cowen, Deutsche Bank, and UBS for ATM offering.
May sell up to $400M of Class A common stock over three years; no obligation to sell.
Proceeds intended for working capital and general corporate purposes.
Sales agents receive up to 3% commission on shares sold.
Board-appointed placement committee sets sale parameters including price and volume.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

QuantumScape Corp entered into Distribution Agreements with J.P. Morgan Securities LLC, Cowen and Company, LLC, Deutsche Bank Securities Inc. and UBS Securities LLC valued at up to $400,000,000 (effective 2023-02-28).

Action: entry
Agreement: atm program
Counterparty: J.P. Morgan Securities LLC, Cowen and Company, LLC, Deutsche Bank Securities Inc. and UBS Securities LLC
Value: up to $400,000,000
Effective: 2023-02-28

Exact text from the filing

On February 28, 2023, in connection with the launch of an “at the market” offering program, QuantumScape Corporation (the “Company”) entered into separate Distribution Agreements (each a “Distribution Agreement” and together the “Distribution Agreements”) with J.P. Morgan Securities LLC, Cowen and Company, LLC, Deutsche Bank Securities Inc. and UBS Securities LLC (each a “Sales Agent” and together the “Sales Agents”).

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QuantumScape Corp filing history →

Source: SEC EDGAR

accession 0001193125-23-054183

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