The Clap
Battery maker Amprius Technologies is going public by merging with a special purpose acquisition company (SPAC) in a $939 million deal.
More on Amprius
Amprius claims its batteries provide more energy and power with much less weight & volume.
Claps Class
SPACs are companies with no business operations that raise capital by going public, after which they must acquire/merge with a company with commercial operations within two years.
Deal’s deets
Amprius will merge with Kensington Capital Acquisition Corp IV, gaining some $430 million in proceeds. The combined entity plans to list on the New York Stock Exchange in H2-2022.
SPACs under fire
Several SPAC deals have recently fallen through as U.S. regulatory scrutiny increases on such deals, leading to declining investor interest.
