Kensington Capital Acquisition Corp. [NYSE: KCAC] jumped around 1.87 points on Wednesday, while shares priced at $23.50 at the close of the session, up 8.65%. The company report on November 19, 2020 that Kensington Capital Acquisition Corp. and QuantumScape Corporation Announce Final Exchange Ratio for Proposed Business Combination.
Kensington Capital Acquisition Corp. (NYSE: KCAC) (“Kensington”) and QuantumScape Corporation (“QuantumScape”) announced that they have determined the exchange ratio to be 4.02175014920 as of the anticipated date for Closing (as defined below) in accordance with the terms of the Business Combination Agreement, dated as of September 2, 2020, as amended by Amendment No. 1 to Business Combination Agreement, dated as of September 21, 2020 (as so amended, the “Business Combination Agreement”), among Kensington, Kensington Merger Sub Corp. and QuantumScape, pursuant to which, among other things, Kensington and QuantumScape will enter into a business combination. Capitalized terms used in this press release but not otherwise defined herein have the meanings given to them in the Business Combination Agreement.
Pursuant to the terms and subject to the conditions set forth in the Business Combination Agreement, at the closing of the business combination (the “Closing”), each outstanding share of QuantumScape’s Class A common stock, together with each share of QuantumScape’s preferred stock that is outstanding immediately prior to the Closing and convertible into a share of QuantumScape’s Class A common stock pursuant to the provisions of QuantumScape’s certificate of incorporation, and each outstanding share of QuantumScape’s Class B common stock, together with each share of QuantumScape’s preferred stock that is outstanding immediately prior to the Closing and convertible into a share of QuantumScape’s Class B common stock pursuant to the provisions of QuantumScape’s certificate of incorporation, will be cancelled and automatically converted into the right to receive shares of Kensington Class A common stock, par value $0.0001 per share, or shares of Kensington Class B common stock, par value $0.0001 per share, as applicable, with each holder’s shares rounded down to the nearest whole number.
Compared to the average trading volume of 3.87M shares, KCAC reached a trading volume of 4228134 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Kensington Capital Acquisition Corp. [KCAC]?
The Average True Range (ATR) for Kensington Capital Acquisition Corp. is set at 2.05
How has KCAC stock performed recently?
Kensington Capital Acquisition Corp. [KCAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.76.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KCAC stock in for the last two-week period is set at 74.88, with the RSI for the last a single of trading hit 79.74, and the three-weeks RSI is set at 71.47 for Kensington Capital Acquisition Corp. [KCAC]. The present Moving Average for the last 50 days of trading for this stock 15.77, while it was recorded at 21.46 for the last single week of trading.