Stanford spinout QuantumScape is set to merge with NYSE-listed Kensington Capital Acquisition in a $700m deal that will value the combined company at $3.3bn.
QuantumScape, a US-based solid-state battery developer spun out of Stanford University, agreed to a reverse merger with special purpose acquisition company Kensington Capital Acquisition Corp yesterday to list on the New York Stock Exchange (NYSE).
The deal will net QuantumScape more than $700m in proceeds, including a $500m private investment in public equity deal anchored by Fidelity Management and Research and Janus Henderson Investors.
The combined business will trade on the NYSE under the ticker symbol QS and…
