QuantumScape falls after filing to sell up to $1B worth of securities
Hiroshi Watanabe
QuantumScape Corporation (NYSE:QS) traded lower on Monday after the company filed late on Friday for $1B mixed securities shelf offering
The securities sold by the company in the offering could include Class A common stock, preferred stock, depositary shares, debt securities, warrants, subscription rights, purchase contracts and units in one or more offerings and in any combination.
QuantumScape (QS) said it will retain broad discretion on the use of the proceeds, but that it could go towards acquiring, licensing or investing in complementary products, technologies or businesses.
Shares of QS fell 3.37% in late morning action on Monday to $10.45 vs. the 52-week trading range of $8.22 to $43.08.
QuantumScape (QS) missed analyst expectations with its Q2 earnings report last week.
