Kensington Capital Acquisition Corp. IV

The company has committed to this facility for seven additional years beyond the prior June 30, 2027 expiry, at a rent schedule fixed through June 2034. The two five-year renewal options are unexercised.

Revenue growth is accelerating driven by SiCore battery sales, and gross margin improved to 27% from 9% YoY, suggesting improving operating leverage. The warrant exchange reduces future dilution and the lease termination eliminates a significant non-cash lease obligation ($33.2M liability derecognized), streamlining the balance sheet.

This retires warrants rather than issuing new capital: up to 3,092,900 shares are offered for the Private Warrants, about 2.8% of the shares outstanding after the exchange, against Private Warrants exercisable at $11.50 each. As of June 18, 2024 there were 15,900,000 Private Warrants outstanding; Kensington Capital Partners, LLC has agreed under a tender and support agreement to tender the 4,700,000 it holds, while director Justin Mirro has waived participation as to his 200,000. Completion is not conditioned on any minimum tender, so the offer closes at whatever level it draws.

This retires sponsor-side warrants only. As of June 18, 2024 there were 15,900,000 Private Warrants outstanding, each exercisable at $11.50 under the Warrant Agreement dated March 1, 2022; Kensington Capital Partners, LLC holds 4,700,000 and has agreed to tender them under a Tender and Support Agreement, while director Justin Mirro has waived his right to participate for the 200,000 he holds directly. Up to 3,092,900 shares are offered, which the filing puts at 2.8% of the shares outstanding after the offer.

The stated purpose is corporate rather than commercial: the filing says the mergers are intended to improve corporate governance and enhance Amprius's public float and liquidity. The exchange is deliberately discounted — on an assumed Discounted Exchange Ratio of 0.7056, the Per Share Merger Consideration is expected to comprise 29,363,779 shares of Amprius common stock and 28,606,816 shares of Amprius non-voting common stock. Holdco warrants are cancelled and replaced on a net exercise basis, with the aggregate exercise price divided by $8.71.

The exchange is at a discount and the filing names it as such: on an assumed Discounted Exchange Ratio of 0.7056, the Per Share Merger Consideration is expected to comprise 29,363,779 shares of Amprius common stock and 28,606,816 shares of Amprius non-voting common stock, so roughly half of what is issued carries no vote. Nine series of Holdco preferred convert first, voting series into Class A and non-voting series into Class B common stock. Holdco warrants are replaced on a net-exercise basis using $8.71 as the divisor for their aggregate exercise price.

What changed: Exhibit 10.1 to an 8-K of Amprius Technologies, Inc.: a Second Amendment to Industrial Lease dated August 7, 2026 with Los Altos Fields, LLC covering approximately 51,000 rentable square feet at 1000–1180 Page Avenue, Fremont, California. The lease had been scheduled to expire June 30, 2027; the term is extended 84 months from a July 1, 2027 commencement to a new expiration of June 30, 2034. All previous extension options are deleted and replaced with two five-year options at then-current fair market rent, floored at the rent payable in the last month of the extended term. Why it matters: The company has committed to this facility for seven additional years beyond the prior June 30, 2027 expiry, at a rent schedule fixed through June 2034. The two five-year renewal options are unexercised.

What changed: Amprius Technologies (formerly Kensington Capital Acquisition Corp. IV) filed its Q2 2026 10-Q showing revenue of $34.0M for Q2 and $62.6M for 1H 2026, up 126% and 137% YoY respectively, with net loss narrowing to $3.2M in Q2 from $6.4M prior year. The company terminated its Brighton, Colorado lease for a $20.0M one-time payment and conducted a cashless exchange of 7.1M public warrants for 2.7M shares, reducing outstanding warrants from 18.8M to 10.5M. Why it matters: Revenue growth is accelerating driven by SiCore battery sales, and gross margin improved to 27% from 9% YoY, suggesting improving operating leverage. The warrant exchange reduces future dilution and the lease termination eliminates a significant non-cash lease obligation ($33.2M liability derecognized), streamlining the balance sheet.

What changed: 8-K of Amprius Technologies, Inc. Item 2.02 (results of operations and financial condition): on August 4, 2026 the Company announced its business and financial results for the fiscal second quarter ended June 30, 2026, with the earnings release furnished as Exhibit 99.1. The Item 2.02 information and Exhibit 99.1 are not deemed filed for Section 18 purposes nor incorporated by reference. The report adds that the contents of any website or hyperlink mentioned in the release are informational only and not part of it. Signed by CFO Ricardo C. Rodriguez. Why it matters: Routine quarterly earnings furnishing; the report states no figure. Its one distinctive term is the express disclaimer of hyperlinked website content, which narrows what the release itself is asserting.