Merger KCAC4.U

Industry Disrupting Silicon Nanowire Battery Company Amprius Technologies to List on NYSE through merger with Kensington Capital IV

, SPAC Research

Amprius Technologies, the leader in lithium-ion batteries with its Si Nanowire Anode Platform, and Kensington Capital Acquisition Corp. IV (NYSE: KCAC.U), today announced a definitive agreement for a business combination that would result in Amprius becoming a publicly-listed company.

Amprius is transforming electric mobility by developing, manufacturing, and selling the most powerful lithium-ion batteries on the commercial market today.

Amprius currently provides its batteries to the aviation and defense industries, including customers such as Airbus and the U.S. Army, with plans to deliver its technology to additional markets including the automotive industry.

The transaction assumes approximately $430 million in gross proceeds raised through the business combination, including $230 million of cash in trust and up to $200 million in additional equity financing.

The transaction implies a pro forma enterprise value of $939 million.

The boards of directors of both Kensington and Amprius have approved the proposed transaction, which is expected to be completed in the second half of 2022, subject to, among other things, the approval by Kensington's stockholders and satisfaction or waiver of other conditions stated in the definitive documentation.

Hughes Hubbard & Reed is serving as legal advisor and Marcum is serving as auditor to Kensington.

Oppenheimer & Co. is serving as financial advisor, Wilson Sonsini Goodrich & Rosati is serving as legal advisor, and SingerLewak is serving as auditor to Amprius.

Upon closing of the transaction, the combined company will be named Amprius Technologies, Inc. and its common stock will trade on the NYSE under the new ticker symbol "AMPX."

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