Lithium-Ion Battery Maker Amprius Inks $939M SPAC Merger

By Charlie Innis (May 12, 2022, 3:57 PM EDT) -- Amprius Technologies Inc., a manufacturer of lithium-ion batteries guided by Wilson Sonsini, plans to go public at a $939 million valuation after combining with a Hughes Hubbard-led special-purpose acquisition vehicle, the companies said Thursday.

Amprius will trade on the New York Stock Exchange under the symbol AMPX once the deal with Kensington Capital Acquisition Corp. IV closes. The combined company is expected to take $430 million in proceeds and have a $939 million enterprise value, which includes debt, according to the joint announcement.

The transaction is expected to close in the second half of 2022, the companies said.

California-based Amprius makes...

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