Quanergy Systems, Inc., QNGY (“Quanergy” or the “Company”), a leading provider of LiDAR sensors and intelligent 3D solutions, today announced pricing for an underwritten public offering for gross proceeds of approximately $16.7 million, before deduction of underwriting discounts and -Commissions and listing costs known.
The Offering is for 9,800,000 Units, each Unit consisting of one share of our common stock with a par value of $0.0001 per share (the “Common Shares”) and two warrants to purchase one share of our common stock (the “Unit Warrants” and , together with the common shares underlying these warrants (the “Units”) at a public offering price of $1.70 per Unit. Each unit warrant has an exercise price of $1.70 and is exercisable for one common share for a period of five years from the date of issuance. Closing of the offering is expected to occur on or about November 2, 2022, subject to the satisfaction or waiver of customary closing conditions.
Maxim Group LLC is acting as sole book running manager in connection with this offering.
In addition, the Company has granted the applicant a 30-day option to purchase up to an additional 1,470,000 common shares and/or 2,940,000 unit warrants to purchase 2,940,000 common shares solely to cover any over-allotment at the public offering price, less the actuarial rebates and commissions.
The securities were offered pursuant to a registration statement on Form S-1 (File Number 333-267420) filed by the United States Securities and Exchange Commission (“SEC”) on October 28, 2022. The offer is made exclusively by prospectus. A preliminary prospectus relating to the Proposed Offering was filed with the SEC on October 24, 2022 and is available on the SEC’s website at http://www.sec.gov. A definitive prospectus relating to this offering will be filed by the Company with the SEC. If available, copies of the definitive prospectus…
