QuantumScape (NYSE:QS) has announced that its special purpose acquisition company (SPAC) merger with Kensington Capital Acquisition is complete. This saw shares of QS stock start trading on the New York Stock Exchange on Friday.
QuantumScape notes that the SPAC merger gives it roughly $650 million in funding to make use of. That includes about $500 million from a private investment in public equity (PIPE). The company says that these funds will fuel it into the start of the second quarter of 2024.
Following the completion of its SPAC merger, QuantumScape, has seen shares of its stock taking off Monday. That comes alongside heavy trading. In the morning hours, more than 20 million shares of QS stock have changed hands. For comparison, the stock’s daily average trading volume is 23.6 million shares.
Let’s take a deeper dive into QuantumScape now that its SPAC merger is complete.
The Bull Take on QS
- Revolutionize Your EV-Niche Portfolio with Kensington Capital
- 3 Quantum Glass Stocks for the Future of Batteries
- Next-Generation Batteries Are the New Hottest Investment
- Kensington Capital Stock Looks Like One of the Best EV Plays Out There
- Kensington Capital Stock Plusses Outweigh the Minuses at These Levels
- The Upside for Kensington Capital Stock Is North of 50%
The Bear Take on QS
- After Its Quantum Leap, It’s Time for Another Look at Kensington Capital
- If You Buy the Kensington Capital Stock Story, Be Ready to Sell the News
- The Important, and Intriguing, Question Facing Kensington Capital Stock
QS stock was up 17.1% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.