Amprius Technologies will exchange 2.73 million shares for 7.13 million warrants at $11.50 each, reducing dilution by 62%.
Amprius Technologies (AMPX) announced agreements to exchange 2.73 million shares for 7.13 million public warrants, reducing potential dilution by 62%. The warrants carry an exercise price of $11.50 per share.
The company previously had 7.13 million outstanding public warrants, which could have significantly increased its share count if exercised. This move follows efforts to streamline capital structure and reduce overhang.
No immediate market reaction was disclosed in the announcement.