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Do You Know Why Quanergy (QNGY) Stock Is Nose Diving In Pre-Hour Trades Today?

Following an equity move, Quanergy Systems Inc. (NYSE: QNGY) was down -72.12% at $0.92 in pre-market trading hours on Monday.

Which equity decision has QNGY made?

Prior to subtracting underwriting discounts and commissions and offering expenses, Quanergy (QNGY) announced the price of an underwritten public offering for gross proceeds of approximately $16.7 million yesterday.

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The Quanergy offering consists of 9,800,000 Units, each of which contains two warrants to buy one share of its common stock (the “Unit Warrants” and, together with the shares of common stock underlying such Unit Warrants, the “Units”) at the public offering price of $1.70 per Unit. QNGY common stock has a par value of $0.0001 per share.

Five years from the date of issuance, each Unit Warrant has an exercise price of $1.70 and is convertible into one share of QNGY Common Stock. The offering is anticipated to close on or around November 2, 2022, pending the fulfillment or waiver of the usual closing conditions. As the sole book-running manager for this offering, Maxim Group LLC is in charge.

Quanergy has additionally given the underwriter a 30-day option to buy up to 1,470,000 extra shares of common stock and/or 2,940,000 unit warrants to buy 2,940,000 shares of common stock, solely to cover any over-allotments that may occur, at the public offering price, less the underwriting discounts and commissions.

Recently, QNGY joined a marketplace:

Quanergy is now integrated with all Powered by Nx products made using Nx Meta and is a member of Network Optix’s Works with Nx Marketplace. With the help of Nx Witness VMS or other Powered by Nx products, businesses can use real-time, cutting-edge 3D insights to transform their operations in a variety of industries, including physical security, smart cities, smart spaces, industrial automation, and much more.

Quanergy’s smart LiDAR solutions are made up of the M-Series sensors and QORTEX 3D perception software. The first-ever LiDAR-driven integration for Network Optix takes place with the integration of Quanergy’s Security and Flow Management Solutions with Works with Nx.

How is QNGY changing things?

Current market products frequently disappoint organizations attempting to acquire a precise real-time view of their operating environment. When combined with Powered by Nx products, the 3D LiDAR technologies from Quanerg (QNGY) add an exceptional new level of people and object detection and behavior analysis, giving businesses a 360-degree understanding of what is occurring in real-time in their most crucial facilities, properties, and locations; and QNGY has been providing revolutionary solution in this scenario.