Shares of LiDAR sensors and smart 3D solutions provider Quanergy Systems (NYSE:QNGY) are sliding in the pre-market session today after it priced an underwritten public offering of $16.7 million in gross proceeds.
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The offer includes 9.8 million units with each unit making up one common share and two warrants. The offer is expected to close by November 2, subject to conditions.
Further, the underwriters of the offer have a 30-day option to acquire up to 1.47 million shares and or 2.94 million unit warrants of the company.
On Friday, Quanergy shares had surged a whopping ~154%.
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