Today, Amprius Technologies, Inc., a company specializing in miscellaneous electrical machinery, equipment, and supplies, disclosed its financial results for the second quarter ended June 30, 2024. The announcement, based on a press release statement, was made alongside the filing of the company's 8-K report with the Securities and Exchange Commission.
The Fremont, California-based company, which trades on the New York Stock Exchange under the ticker NYSE:AMPX, has also issued redeemable warrants trading as NYSE:AMPX.W. The details of the financial outcomes were presented in a Letter to Shareholders, which is included as Exhibit 99.1 in the 8-K filing.
Amprius Technologies, which has undergone a name change from Kensington Capital Acquisition Corp. IV on December 14, 2021, emphasized that the information provided in the Letter to Shareholders is not to be considered "filed" for regulatory purposes or incorporated by reference into future filings.
In other recent news, Amprius Technologies has been making significant strides in its business operations. The lithium-ion battery manufacturer recently launched a reduced-price warrant exercise offer, aiming to incentivize warrant holders to invest in the company. This initiative could potentially raise about $50 million for the company's working capital and general corporate purposes, including funding its development plans.
On the earnings front, Amprius reported a remarkable 397% increase in total revenue year-over-year, reaching $2.3 million for the first quarter of 2024. This uptick in earnings was accompanied by a doubling of the company's customer base, now standing at 82 customers.
In addition to these financial developments, Amprius is also progressing with the construction of a large-scale manufacturing facility in Brighton, Colorado. The company looks forward to expanding its production capacities, with a target of achieving two megawatt hours by the end of the year.
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