FREMONT,
Calif. and WESTBURY,
N.Y., July 11, 2022 /PRNewswire/ -- Amprius
Technologies, Inc. ("Amprius"), the leader in lithium-ion batteries
with its Silicon Nanowire Anode Platform, announced today that
Justin Mirro will join the Amprius
board of directors upon completion of Amprius' business combination
with Kensington Capital Acquisition Corp. IV ("Kensington") (NYSE: KCAC.U), which is expected
in the second half of 2022.
Mirro brings over 25 years of experience in sourcing,
structuring, financing, and closing complex transactions in the
automotive-related sector to the Amprius board. He currently serves
as the chairman and CEO of Kensington Capital Acquisition Corp. IV
and the president of investment firm Kensington Capital Partners.
Mirro previously served on the board of directors of QuantumScape
and Cooper-Standard Holdings.
Dr. Kang Sun, CEO of Amprius,
commented: "We are thrilled that Justin
Mirro will be joining our board of directors. His deep
expertise in operations and financing, and his experience creating
significant shareholder value for companies focused on electric
mobility, will be an invaluable asset for Amprius as we continue to
execute on our commercialization strategy and work to make our
silicon nanowire anode batteries a mainstream
technology."
Justin Mirro, Chairman and CEO of
Kensington, added: "I am excited
to join the board of Amprius at this critical time in the company's
history. Amprius' market-leading battery technology is enabling the
advancement of electric mobility and has already been validated by
numerous customers. I look forward to working with Kang and the
other directors to support the Amprius team as the company expands
its manufacturing capabilities to meet the robust demand for its
leading-edge batteries."
About Amprius Technologies, Inc.
Amprius Technologies,
Inc. is a leading manufacturer of high-energy and high-power
lithium-ion batteries producing the industry's highest energy
density cells. The company's corporate headquarters is in
Fremont, California where it
maintains an R&D lab and a pilot manufacturing facility for the
fabrication of silicon nanowire anodes and cells.
For additional information, please visit amprius.com.
About Kensington Capital Acquisition Corp.
IV
Kensington Capital Acquisition Corp. IV (NYSE: KCAC.U) is
a special purpose acquisition company formed for the purpose of
effecting a merger, stock purchase or similar business combination
with a business in the automotive and automotive-related sector.
Kensington's management team of
Justin Mirro, Dieter Zetsche, Bob
Remenar, Simon Boag and
Dan Huber is supported by a board of
independent directors including Tom
LaSorda, Nicole Nason,
Anders Pettersson, Mitch Quain, Don
Runkle, and Matt
Simoncini.
Kensington's units, subunits
and warrants are currently trading on the New York Stock Exchange
under the symbols "KCAC.U," "KCA.U," and "KCAC.WS," respectively.
Each "KCAC.U" unit contains one subunit and 1 warrant. Each "KCA.U"
subunit contains one share of Kensington common stock and 1 warrant. A
holder of the subunit will only be able to retain the 1 warrant
underlying the subunit if the holder elects not to redeem the
subunit in connection with the Business Combination. The subunits
will not separate into shares of common stock and warrants until
the consummation of the Business Combination.
For additional information, please visit autospac.com.
Forward-Looking Statements
This press release includes
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended (the "Securities Act"),
Section 21E of the Securities Exchange Act of 1934 and the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995, each as amended, including
Kensington's or Amprius' or their
management teams' expectations, hopes, beliefs, intentions or
strategies regarding the future. Forward-looking statements may be
identified by the use of words such as "estimate," "plan,"
"project," "forecast," "intend," "expect," "anticipate," "believe,"
"seek" or other similar expressions that predict or indicate future
events or trends or that are not statements of historical
matters. These forward-looking statements include, but are
not limited to, statements regarding the proposed business
combination between Amprius and Kensington (the "Proposed Business
Combination") and the expansion of Amprius' manufacturing
capabilities. These statements are based on various
assumptions, whether or not identified in this press release, and
on the current expectations of Amprius' and Kensington's management and are not
predictions of actual performance. These forward-looking
statements are provided for illustrative purposes only and are not
intended to serve as, and must not be relied upon by any investors
as, a guarantee, an assurance, a prediction or a definitive
statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances
are beyond the control of Amprius and Kensington. These
forward-looking statements are subject to a number of risks and
uncertainties, including changes in domestic and foreign business,
market, financial, political and legal conditions; the inability of
the parties to successfully or timely consummate the Proposed
Business Combination, including the risk that any regulatory
approvals are not obtained, are delayed or are subject to
unanticipated conditions that could adversely affect the combined
company or the expected benefits of the Proposed Business
Combination or that the approval of the equity holders of Amprius
or Kensington is not obtained;
failure to realize the anticipated benefits of the Proposed
Business Combination; risks related to the rollout of Amprius'
business and the timing of expected business milestones; the
effects of competition on Amprius' business; supply shortages in
the materials necessary for the production of Amprius' products;
the termination of government clean energy and electric vehicle
incentives or the reduction in government spending on vehicles
powered by battery technology; delays in construction and operation
of production facilities; the amount of redemption requests made by
Kensington's public equity
holders; and the ability of Kensington or the combined company to issue
equity or equity-linked securities in connection with the Proposed
Business Combination or in the future. Additional information
concerning these and other factors that may impact the operations
and projections discussed herein can be found in Kensington's periodic filings with the
Securities and Exchange Commission (the "SEC"), including
Kensington's final prospectus for
its initial public offering filed with the SEC on March 2, 2022 and the Registration Statement (as
defined below) filed in connection with the Proposed Business
Combination. If any of these risks materialize or our assumptions
prove incorrect, actual results could differ materially from the
results implied by these forward-looking statements. There
may be additional risks that neither Amprius or Kensington presently know or that Amprius and
Kensington currently believe are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In
addition, forward-looking statements reflect Amprius' and
Kensington's expectations, plans
or forecasts of future events and views as of the date of this
press release. Amprius and Kensington anticipate that subsequent events
and developments will cause Amprius' and Kensington's assessments to change.
However, while Amprius and Kensington may elect to update these
forward-looking statements at some point in the future, Amprius and
Kensington specifically disclaim
any obligation to do so. These forward-looking statements
should not be relied upon as representing Amprius' or Kensington's assessments as of any date
subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements. Neither Amprius, Kensington, nor any of their respective
affiliates have any obligation to update this press release other
than as required by law.
Important Information and Where to Find It
This
communication is being made in respect of the proposed transaction
involving Kensington and Amprius.
A full description of the terms of the transaction is provided in
the registration statement on form S-4, dated June 21, 2022 (File No. 333-265740) (the
"Registration Statement"), filed with the SEC by Kensington. The Registration Statement
includes a prospectus with respect to the combined company's
securities to be issued in connection with the Proposed Business
Combination and a preliminary proxy statement with respect to the
shareholder meeting of Kensington
to vote on the Proposed Business Combination. Kensington also plans to file other documents
and relevant materials with the SEC regarding the Proposed Business
Combination. After the Registration Statement is declared effective
by the SEC, the definitive proxy statement/prospectus included in
the Registration Statement will be mailed to the shareholders of
Kensington as of the record date
to be established for voting on the Proposed Business Combination.
SECURITY HOLDERS OF AMPRIUS AND KENSINGTON ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS
THERETO) AND OTHER DOCUMENTS AND RELEVANT MATERIALS RELATING TO THE
PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC
CAREFULLY AND IN THER ENTIRETY WHEN THEY BECOME AVAILABLE BEFORE
MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED BUSINESS
COMBINATION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT
THE PROPOSED BUSINESS COMBINATION AND THE PARTIES TO THE PROPOSED
BUSINESS COMBINATION. Shareholders are able to obtain free copies
of the proxy statement/prospectus and other documents containing
important information about Amprius and Kensington once such documents are filed with
the SEC through the website maintained by the SEC at
http://www.sec.gov. The information contained on, or that may be
accessed through the websites referenced in this press release is
not incorporated by reference into, and is not a part of, this
press release.
Participants in the Solicitation
Kensington and its directors and executive
officers may be deemed to be participants in the solicitation of
proxies from the shareholders of Kensington in connection with the Proposed
Business Combination. Amprius and its officers and directors
may also be deemed participants in such solicitation.
Security holders may obtain more detailed information regarding the
names, affiliations and interests of certain of Kensington's executive officers and directors
in the solicitation by reading Kensington's final prospectus filed with the
SEC on March 2, 2022, the definitive
proxy statement/prospectus, which will become available after the
Registration Statement has been declared effective by the SEC, and
other relevant materials filed with the SEC in connection with the
Proposed Business Combination when they become available.
Information concerning the interests of Kensington's participants in the solicitation,
which may, in some cases, be different from those of Kensington's shareholders generally, is set
forth in the preliminary proxy statement/prospectus included in the
Registration Statement.
No Offer or Solicitation
This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities, or constitute a solicitation of any vote or
approval in respect of the potential transaction and shall not
constitute an offer to sell or a solicitation of an offer to buy
the securities of Kensington,
Amprius or the combined company, nor shall there be any sale of any
such securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of the Securities Act.
Contacts:
For Amprius Technologies
Investors
Cody Slach
and Sophie Pearson
Gateway
949-574-3860
IR@amprius.com
Media
Renée Maler
Philosophy PR
510-499-9746
renee@philosophypr.com
For Kensington
Dan
Huber
Chief Financial Officer
dan@kensington-cap.com
703-674-6514
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SOURCE Kensington Capital Acquisition Corp. IV