Quanergy Board Approves Reverse Stock Split - Quick Facts

Quanergy Systems, Inc. (QNGY) said its Board has approved a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-20. The reverse stock split will be effective on October 6, 2022, and shares of common stock will begin trading on a split-adjusted basis when the NYSE opens on October 7, 2022. The company said its reverse stock split is primarily intended to increase the per share trading price and bring the company into compliance with the NYSE's listing requirement regarding minimum share price.

Quanergy noted that, as a result of the reverse stock split, every 20 shares of common stock issued and outstanding or held as treasury shares as of the effective date will be automatically combined into one share of common stock. The par value will remain unchanged at $0.0001 per share after the reverse split.

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